What you need to know, now. 

Another late week rally was not enough to undo an early week pullback as the S&P 500 slipped -0.4% for its first back-to-back weekly decline since February.

This time last year, we were all forced to make drastic changes to our everyday lives -- working from home, acting as educators to our children and grandchildren, and settling in for the unknown long-term. Fortunately, there is finally optimism and a shred of pre-pandemic normalcy.

On March 1, the Ultra-Millionaire Tax Act was introduced. If passed, certain affluent families could see their tax obligation increase.

One example of a controlled group is a Parent-subsidiary controlled group: The simplest form of a parent-subsidiary controlled group consists of one business (the parent) that owns at least 80% of another business (the subsidiary).

The affiliated service group (ASG) rules were added to the Code in order to close several loopholes that practitioners found in the controlled group rules. Even if two businesses do not constitute a controlled group, the ASG rules will aggregate the businesses if they are sufficiently tied together in performing services for one another or for third parties.