The Importance of Buy-Sell Agreements
What is a Buy-Sell Agreement? A Buy-Sell Agreement is a legally binding contract that lays out the parameters under which shares in a business can be bought or sold. It provides a mechanism for an orderly business succession should an…
Are S Corporations Facing Extinction?
Corporations, limited liability companies, and certain other business entities can make an election with the Internal Revenue Service to be taxed under Subchapter S of the Internal Revenue Code. If such an election is made, the business entity becomes an…
Deduct 100% of Your Employee Recreation and Parties
You take Bill, your best customer, to the local country club and treat him to 18 holes of golf. The golf produces a zero deduction. However, if you take your employees and their spouses and children to the local…
You Don’t Need a Disaster to Deduct Business Casualty Losses
Disasters are always bad news. Fires, floods, freezes, and other disasters can damage or destroy the personal or real property you use to keep your business up and running. However, you may be able to deduct your losses. And you…
IRS Penalty; Secrets to the IRS Forgiveness Process
Uh-oh! In your mailbox, you found that dreaded envelope—the one from the IRS. Inside the envelope, you find a notice from the IRS informing you that it assessed additional tax, penalties, and interest on your tax return from two years…
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IRS Penalty; Secrets to the IRS Forgiveness Process
Uh-oh! In your mailbox, you found that dreaded envelope—the one from the IRS. Inside the…
Did You Report Your Foreign Bank Accounts?
If you own or have an interest in any foreign bank account or other types…
The IRS Strikes Back!
On November 18, 2020, the IRS released Rev. Rul. 2020-27 and Rev. Proc. 2020-51 providing…
How Many Whole or Partial Rooms Can You Use For Your Home Office?
With the COVID-19 pandemic still going on, you may be spending more time working from…
Don’t Overlook at This Deductions if You Are Working From Home
Whether you claim a business office in the home or are simply working at home,…
Why Businesses Get Into Trouble With Payroll Taxes?
Payroll taxes troubles is the largest portion of the tax resolution cases we handle in…
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Ten Simple Ways to Simplify Our Lives
This short article was inspired after talking to one of my clients. This person…
Turn Your Rental Property into a Cash Cow Using a Cost Segregation
Cost segregation breaks your real property into its components, some of which you can…
What To Do After A Data Breach
By now you have learned the disturbing news involving the now widely…
In Business Cash Flow is King
One of the oldest and most important notions in Business Finance is the statement that…
Three Important Tax Concepts All Serious Real Estate Investor Must Understand
Choosing the right tax strategy depends on understanding your options and how those options are…
Is a Real Estate Agent a Real Estate Broker for Passive Loss Rules?
Our tax law puts your income and deductions into three separate buckets for tax…
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