This brief reviews the factors that distinguish a “hobby” from a “business” in the eyes of the IRS as well as associated requirements, common misapplications of regulations and the factors that go into a determination between the two.
In a workshop hosted by the Center for Energy Studies and the King Abdullah Petroleum Studies and Research Center earlier this year, experts considered the future of US shale oil and gas production. Given the need for oil supplies in the near term, is a new shale renaissance on the horizon?
The war in Ukraine has taken a dramatic turn. The recent Ukrainian victory in the Kharkiv region has sent a clear message to Putin, who has so far responded with partial mobilization: Russia is in deep trouble in Ukraine.
The most recent price tag for Biden’s student loan forgiveness plan is an estimated half-trillion dollars or more. Will higher inflation be another cost?
The 15% corporate minimum tax is one of the Inflation Reduction Act's key revenue-raising provisions Joyce Beebe reviews the background, operating mechanism and different perspectives associated with implementing the corporate minimum tax.
The energy policies of the United States and Mexico are at a crossroads, writes nonresident scholar Isidro Morales. In this report, he explains that the future direction of energy in both nations depends on how global energy markets adjust to the latest shock to the system — Russia’s invasion of Ukraine.
The authors review the rating systems used to assign state unemployment insurance (SUI) tax rates to businesses, focusing on the reserve ratio and benefit ratio methods, and examine suggested alternatives.
What would happen if Russian gas stopped flowing to Europe? After recent gas cutoffs to Poland and Bulgaria, other countries’ decision on gas imports from Russia need to represent a definitive, unifying statement that time for Russian dominance over EU gas imports is over, write the authors. Read the post on the Baker Institute Blog.
This article originally appeared in the Forbes blog on May 3, 2022.