Nope! Pop Culture
This Marvel billionaire would need to track basis in Stark Industries if it were an S corp.
Who is Tony Stark?
OBBBA helps practitioners explain how tax rules interact across these two major taxpayer groups.
What are Individuals and Businesses?
This business structure faces “double taxation,” once at the entity level and again at the shareholder level.
What is a C corporation?
This Netflix survival series based in South Korea and later adapted to a reality game show would require contestants to report prize winnings as ordinary income.
What is Squid Game?
This choice between two types of deductions is a key OBBBA decision point for many individual taxpayers.
What is choosing between itemized deductions and the standard deduction?
This election allows a corporation to be taxed as a pass‑through entity if eligibility rules are met.
What is the S corporation election?
This singer’s “Eras Tour” would require multi‑state apportionment and nonresident returns in nearly every jurisdiction.
Who is Taylor Swift?
This type of entity is often used in OBBBA examples because its income flows directly to the owner’s return.
What is a pass‑through entity?
This number limits how much loss a partner or S corporation shareholder can deduct.
What is basis?
This AI‑powered robot from Star Wars would still need to issue W‑2s if it hired droids.
Who is C‑3PO?
This date determines when many energy‑related credits are available.
What is the placed‑in‑service date?
This default classification applies to a multi‑member LLC unless an election is filed.
What is a partnership?