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Whether you are just starting a business, are an experienced entrepreneur, or would just like to make sure your loved ones are protected in the event of a death, we would be pleased to have a conversation to see whether we are a good fit for each other
Whether you call it COVID-19 or Coronavirus, there is no deny that this global pandemic has begun impacting all of our lives in ways predictable and unpredictable. One predictable impact is the stress on employees and employers as they try...
In the first issue the IICLE “Tax Law Explained” FlashPoints (May, 2009) I showed how the Federal Tax laws are designed to encourage or discourage certain behaviors, not just raise money. Sure, the Federal government needs money, but they would...
Information Returns (Part 2 of 2) Common Information Returns were discussed in the October, 2010 edition of Tax Law Explained . This is the second part of that discussion and covers Schedule K-1’s issued by Partnerships, Limited Liability Companies (LLC’s)...
Information Returns The Federal Income Tax system depends upon voluntary compliance. That is, the government depends upon taxpayers to prepare complete and accurate tax returns and then go on to file them and pay the taxes due on a timely...
When the neighborhood kids set-up a lemonade stand on the corner, no one expects to see an IRS agent stop by for a drink, let alone on official business. Do the kids have to report the income from sales? Can...
Buying or selling a business can be an exciting time for both the buyer and the seller. However, it is important to nail down the exact terms of any sale and limit traps for the unwary. We worked with a...
Sometimes great business opportunities and relationships can spring out of difficult situations. One day we got a frantic call from one of our service oriented business clients. One of their employees had sent out an important document that was full...
While anyone who takes the time to do succession planning for their business should be applauded for thinking ahead, not all succession planning is created equal. In one case a client came to us to discuss estate planning. It came...
Succession planning is vitally important for any business whether there is one owner or multiple owners. In one case our firm was originally contacted by a person who ran a successful business. They were looking to sell the business and...
