Craig W Smalley EA 590a21a5e672c

Craig Smalley

Craig W. Smalley, MST, EA, is the Founder and CEO of CWSEAPA, PLLC. He has been admitted to practice before the Internal Revenue Service as an Enrolled Agent and has a Master’s Certificate in Taxation from UCLA. In practice since 1994, Craig is well-versed in U.S Tax Law and U.S. Tax Court cases, and specializes in individual, partnership, and corporate taxation for high-net-worth clients; entity structuring and restructuring; and representation before the IRS regarding negotiations, audits and appeals. Craig is currently a columnist for CPA Practice Advisor and AccountingWEB and has had 12 books published. His articles have been featured in publications including the Wall Street Journal, The New York Times, and Christian Science Monitor, and he has been interviewed and appeared as a featured guest on numerous radio shows and podcasts. Craig can be reached at craig@craigwsmalleyea.com.

Small Business July 29, 2022 

Asset Protection

Most people know that you can form a limited liability company (LLC), or a corporation to protect their personal assets.  However if you use your corporation or LLC as your personal piggy bank, you could get in trouble. 

Craig Smalley

May 11, 2022 

Cannabis Business Accounting: Bad Debts

If you are on the accrual method of accounting, and you recognize income as it is incurred and someone doesn’t pay you, you have a bad debt. However in cannabis you are stymied by Section 280E, which only allows cost of goods sold (COGS) to be deducted.

Craig Smalley

April 1, 2019 

The Effect of Rev. Rul. 2019-9, 2019-14 IRB

The immediate effect of Rev. Rul. 2019-9, would allow for a tax-free distribution of stock and securities to its shareholders, provided the controlling corporation and the active corporation are engaged in an active conduct of trade or business ...

Craig Smalley

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Contributors

Amy Vetter

Amy Vetter

CPA, CITP, CGMA

Becky Livingston with Computer 4x3 1  551d928e56d4b

Becky Livingston

Accounting & AI Marketing Consultant

Brian Tankersley

Brian Tankersley

CPA, CITP, CGMA

Garrett Wagner

Garrett Wagner

CPA, CITP, CEO and Founder of C3 Evolution Group

Jim Boomer (WB)

Jim Boomer

CPA, CITP, CEO

Ken Berry, JD

Ken Berry, JD

CPA Practice Advisor Tax Correspondent

Kristy Short, Ed.D.

Kristy Short, Ed.D.

Accounting Content Specialist

Mary Girsch-Bock

Mary Girsch-Bock

Contributing Writer

Kepczyk 2019 5c6da0647d129

Roman Kepczyk

CPA, CITP, CGMA

Steve Saah

Steve Saah

Executive Director, Robert Half