by Pedro Gonzalez, CPA | Jun 14, 2017 | Tax, Tax Planning & Preparation, Tax Strategies
The landscape of self-employment tax for LLC members has been shaped by various Tax Court rulings, which provide valuable insights for tax planning. The self-employment tax for closely held businesses has become more important in light of several self-employment tax...
by Pedro Gonzalez, CPA | Apr 19, 2017 | Tax Strategies
Do you operate your business as an S or C corporation? Do you drive for corporate business a vehicle titled in your personal name? If the vehicle is in your personal name, how do you avoid losing some or all your business-use vehicle deductions? By claiming the...
by Pedro Gonzalez, CPA | Mar 13, 2017 | Tax Strategies
Normally, rental income is just like any other income, and you have to pay income taxes on it. But a little-known loophole in the tax law completely excludes certain amounts of rental income from your income taxes. And you don’t have to worry about reporting the...
by Pedro Gonzalez, CPA | Mar 10, 2017 | Exit Strategies
You can structure the purchase ownership interest or assets in two basic ways. If the target business is operated as a C or an S corporation, a partnership, or an LLC that is treated as a partnership for tax purposes, you have two options: Buying the ownership...
by Pedro Gonzalez, CPA | Feb 27, 2017 | Real Estate, Real Estate Investing
Choosing the right tax strategy depends on understanding your options and how those options are shaped by the way certain activities are characterized or treated for tax purposes. The tax code is full of tests that determine how activities are characterized and how...