Plain-English definitions of the terms behind the news β written once, kept current.
The ~20% share of fund profits managers keep β why it is taxed as capital gain rather than income, the three-year holding rule, and both sides of the reform debate.
Read explainer β ExplainerThe contract that sends roughly 85% of a newly public company's tax savings to its founders instead of its shareholders β and why Delaware courts are now scrutinising it.
Read explainer β ExplainerThe two-tier IPO structure that lets founders keep single-layer taxation while the business lists publicly β and the exchange right that creates the tax asset behind every TRA.
Read explainer β ExplainerHow a state-level election turns a capped personal SALT deduction into an uncapped business one β the workaround Congress left standing, and why it is still contested.
Read explainer β ExplainerThe interest-deduction cap and the single measurement choice that decides how much of it a leveraged, capital-intensive business actually gets to deduct.
Read explainer β ExplainerDefer, reduce, eliminate β the three distinct benefits, what a Qualified Opportunity Fund must actually do, and the ten-year clock at the centre of every strategy.
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US TAX DESK