Taxesq - IRS Audit and Business Tax Estate Attorney Cherry Hill NJ

1031 Exchanges Exempt from NJ Non-Resident Withholding Tax The tax law effective August 1, New Jersey P.L. 2004, C.55 (N.J.S. 54A:8-10), which demanded real estate tax withholding from nonresident New Jersey sellers, no longer applies to sellers in a §1031 exchange. The new Seller’s Residency...

Question:My accountant recommends an "S" Corporation rather than a LLC becasue LLC's are taxed as partnerships and that is more complex. What do you think?Answer:The LLC offers more flexibility than an S corp. Remember only qualified persons can hold S stockwhereas anyone or any entity...