You have a great concept for a business, but before you move on to developing your buy-sell agreement, do you know what the best structure or entity type is for you? The entity type is crucial to the success of a business and can have drastic legal and tax consequences for a company. As a business owner, it is your responsibility to understand the structure of the business you are creating and your personal stake within the company.
Tag: tax planning
You sold your house, congratulations! Depending on your situation, you may be eligible to exclude some or all of the profit from the sale from your taxable income. This is called the principal residence exclusion.
If you experienced any life changes - got married, had children, took on a side hustle, etc. – since filing your most recent Form W-4, it may be time to check your withholding.
Every business should have an A Team. Your A Team is includes your trusted accountant, attorney and financial advisor. Having a strategic A Team in place allows your advisors to work together on the big picture.
Blog updated June 2022: In May of 2022, the IRS issued updated guidance in the Frequently Asked Questions (FAQ) section of the Child Tax Credit. The updates focused on taxpayers who may have continued to receive advance Child Tax Credit payments they were not eligible for any longer.
President Biden signed the American Rescue Plan into law Thursday, March 11, 2021. The $1.9 trillion economic stimulus plan contains a number of pieces of legislation aimed at supporting individuals through the continued Coronavirus pandemic.
Direct Payments
Stimulus checks are a big part of this latest bill. Individuals who earn less than $75,000 and married couples earning less than $150,000 will receive a direct payment of $1,400 per person. Additionally, for ever
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Tax planning isn’t something that just comes around at the end of each year. To ensure your company is taking advantage of all available opportunities to lower your tax responsibility, consider the following as you plan for 2021:
- Research and Development Tax Credit
While any qualifying activity must pass the four-part test (permitted purpose, technical uncertainty, process of experimentation and technical in nature), the Research and Development tax credit is applic
Charitable giving is appreciated at every level. Any time an individual gives, no matter the amount, it is a precious gift. Some donors may be in a position to give to a nonprofit they are passionate about. In this case, a donor advised fund (DAF) might be an effective way to maximize their gifts. Donor advised funds are charitable investment accounts established at a public charity to support charitable 501(c)(3) organizations and allow donors to take an immediate tax deduc Read More >>
