HAVEN’T FILED YOUR 2019 BUSINESS TAX RETURN YET? THERE MAY BE WAYS TO CHIP AWAY AT YOUR BILL The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that otherwise would have fallen on...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
business tax
International Tax laws may get changed to help US businesses.
Here is a great article I read on Reuters Tax News today. Hopefully, there will be an overhaul of international taxation to be less punitive for US business. Global deal over digital tax eludes France, U.S. in Davos talks By Leigh Thomas, Richard Lough and Luke Baker...
Avoiding Taxable Dividends when Withdrawing Money from a Corporation
5 WAYS TO WITHDRAW CASH FROM YOUR CORPORATION WHILE AVOIDING DIVIDEND TREATMENT Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t...
Buying and Selling a Business can have big tax impacts!
M&A TRANSACTIONS: AVOID SURPRISES FROM THE IRS If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the IRS in the same way. Otherwise, you may...
Business Organization Expenses may be Tax Deductible
HOW ENTREPRENEURS MUST TREAT EXPENSES ON THEIR TAX RETURNS Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend...
Before you Sign Anything, Call a Lawyer
UNDERSTANDING HOW TAXES FACTOR INTO AN M&A TRANSACTION Merger and acquisition activity has been brisk in recent years. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under...
Can LLC members avoid Self-Employment Tax on Distributions
WHEN ARE LLC MEMBERS SUBJECT TO SELF-EMPLOYMENT TAX? Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment...
Business Owners Exit Strategy
BUSINESS OWNERS: AN EXIT STRATEGY SHOULD BE PART OF YOUR TAX PLANNING Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a pass-through entity). But you...
Strengths, Weaknesses, Opportunities, Threats
Buy business assets before year end to reduce your 2018 tax liability
Buy business assets before year-end to reduce your 2018 tax liability 2018 Year End Tax Planning The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these...
