Brian T. Whitlock, a partner at Golan Christie Taglia, offers valuable insights for entrepreneurs considering new business ventures. By analyzing the context of the shifting economy, working trends and a recent surge in startups, he provides a comprehensive analysis of the income tax regulations in a dynamic work landscape.

The article, “Funemployment” which is part of his regular Untaxingly Yours Column published in Taxes The Tax Magazine, delves into the historical rise of “funemployment” and the gig economy. It explores COVID-19’s impact on employment trends and new businesses, discusses tax implications for start-ups, trade vs business for tax deductions, and highlights legal cases to support deducting the related business expenses. It outlines hobby expense limitations, IRS audit focus and suggestions on the evolving landscape of entrepreneurship.

To access a comprehensive understanding of these concepts, you can read the complete article here.

Brian T. Whitlock's experience encompasses wealth transfer strategies for high-net-worth individuals, business succession planning, and the meticulous handling of trust, estate and exempt organization administration and tax compliance. He also contributes his knowledge as an adjunct faculty member at the Northwestern University Pritzker School of Law.

Golan Christie Taglia, with over 25 years of dedicated service, has consistently delivered successful outcomes while prioritizing top-tier quality and personalized attention for clients. With a diverse clientele that includes entrepreneurial ventures, high-net-worth individuals and nonprofit organizations, GCT stands as dependable.