One of the most complicated aspects of business formation is taxation. It is vital that you understand the different ways you can form a business: horror stories abound with business owners who rushed through the formation process and lived to regret it when the tax man came around or somebody launched a lawsuit.
If you are considering a deferred sales trust, it is vital that you understand the relationship between capital gains tax and the deferred sales trust. In many situations, a deferred sales trust is a great way to avoid losing a lot of money to capital gains tax, but to reap the benefits you must engage in careful estate planning.
If the total estate, including assets held personally or in trust which exceed the exemption, then the estate will be subject to estate taxes of approximately 40% of all assets that exceed the exemption.
Many family businesses have been adversely affected by the novel coronavirus (COVID-19) pandemic. But there's a silver lining: Proactive tax planning […]
2020 is a presidential election year. You'll have an opportunity to cast a vote for your favored presidential candidate in November, […]
Residential real estate values have fully recovered in many areas, and rental rates are strong. To take advantage of this favorable […]
A recent spending package signed into law by President Trump on December 20 retroactively resurrects and/or extends several key tax breaks through […]
Along with a new year comes new payroll rules. Here are five highlights: 1. Significant revisions have been made to Form […]
Under current tax law, the federal income tax rate for C corporations is a flat 21%. Under prior law, C corporations […]
On December 20, 2019, President Trump signed into law the annual government spending package, which includes amendments to the tax law, […]