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...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
business
IRS Audits Can be fought – We know their “Playbook!”
BUSINESSES CAN UTILIZE THE SAME INFORMATION IRS AUDITORS USE TO EXAMINE TAX RETURNS The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain insight into what the IRS is looking for in terms...
Business Tax Write-Offs for Purchased Equipment
IT’S A GOOD TIME TO BUY BUSINESS EQUIPMENT AND OTHER DEPRECIABLE PROPERTY There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for...
Choice of Entity for Small and Growing Business
WHICH ENTITY IS MOST SUITABLE FOR YOUR NEW OR EXISTING BUSINESS? 21% FEDERAL INCOME TAX RATE FOR C CORPORATIONS The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax...
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...
Tax Issues for Divorcing Business Owners
DIVORCING BUSINESS OWNERS NEED TO PAY ATTENTION TO TAX IMPLICATIONS If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest...
March 15Deadline for Partnership and S Corporation Tax Returns
BEWARE THE IDES OF MARCH — IF YOU OWN A PASS-THROUGH ENTITY Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax...
What percentage of Americans used only credit and debit cards in the last week?
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...