Profit Diagnostics Newsletter
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Our Professionals 

Martin R. Glickstein, CPA


Rodney S. Laval, CPA


W. Neal Carris, CPA


Mary C. Dantuma,



Bethany K. Lusby, CPA, MST


Richard M. Ornstein,



Steve Gooden, CPA


Leslie A. Ellis






Issue A 2018 
Picture of medical professionals
Partnerships Must Prepare for New Audit Regime
By W. Neal Carris, CPA
IRS has reissued a proposed regulation that implements the centralized partnership audit regime. Mandatory implementation took  effect   on January 1, 2018.

Passive Loss Deductions and Why You Should Rethink Your Investments
By Bethany K. Lusby, CPA, MST

Before 1986, it wasn't uncommon for someone to invest in a business or rental property that was designed to lose money. The logic behind this move: the tax benefits received from the investment far outweighed any loss that occurred. These "tax shelters" allowed investors to deduct the losses they incurred from other income they earned. In 1986, the story changed when Congress enacted the passive activity loss (PAL) rules, which limited an investor's ability to offset their income with rental or business losses.

Glickstein Laval Carris, P.A.
220 E. Central Parkway, Ste. 1040
Altamonte Springs, FL 32701