The Advantages of Using an LLC for your Small Business
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect […]
Protecting Your Business While Using AI
Have you ever wondered whether the photo or video you’re viewing, the audio you’re listening to or the article you’re reading is real? Artificial intelligence (AI) can […]
Moving Mom or Dad into a Nursing Home? 5 Potential Tax Implications
More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not […]
Identifying and Avoiding Business Valuation Pitfalls
Do-it-yourself business valuations and the use of unqualified financial experts can increase the odds of making an error, misstatement or erroneous deviation from customary valuation practice. These […]
A Tax-Smart Way to Develop and Sell Appreciated Land
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them […]
Retirement Account Catch-Up Contributions Can Add Up
If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth the trouble? Yes! Here are the rules of […]
Corporate Officers or Shareholders: How Should You Treat Expenses Paid Personally?
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may […]
How Secure is Your Accounts Receivable Department?
Asset misappropriation schemes make up more than half of all occupational fraud schemes, according to the Association of Certified Fraud Examiners. It’s a […]
Inheriting Stock or Other Assets? You’ll Receive a Favorable “Stepped-up Basis”
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.
Potential Roadblocks to Valuing a Business in Divorce Proceedings
Divorce is never easy. But when the marital estate includes a private business interest, matters can become especially complicated. Here are some challenges that may be encountered […]
