For most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a buy-sell agreement protects co-owners and their heirs and helps avoid hassles with the IRS. Continue Reading If your business has co-owners, you probably need a buy-sell agreement
Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences. Continue Reading Consider borrowing from your corporation but structure the deal carefully
Now is the time to get up to speed on 2024 SECURE 2.0 changes. Here are several to consider. Continue Reading SECURE 2.0: Which provisions went into effect in 2024?
An external audit requires an investment of time and money. But the payoff can be significant when it comes to the long-term success of your business. Continue Reading Why audited financials matter
An important deadline for quarterly federal estimated tax payments is coming up on June 17. Here are the methods for computing payments for corporations. Continue Reading Figuring corporate estimated tax
You may be alert to such issues as unrelated business income, but the IRS requires nonprofits to report many activities on their Form 990. We suggest you keep four lesser-recognized issues in mind this year. Continue Reading Thinking ahead to your next Form 990
When buying a business, you may not focus on taxes. But the way the transaction is structured can lead to better or worse tax results after the acquisition. Continue Reading Tax tips when buying the assets of a business
There are several factors to consider when converting from a C corporation to an S corporation. Here are four of the tax issues you may face. Continue Reading Should you convert your business from a C to an S corporation?
Starting in 2024, newly formed corporations, LLCs, limited partnerships, and other entities that file formation papers with a state’s Secretary of State office (or similar government agency) must file a report providing specific information regarding the entity’s “beneficial owners.” Entities in existence prior to January 1, 2024, have until January 1, 2025, to file these reports. Continue Reading California Pass-Through Entities: The first 2024 PTE payment is due June 15
If you’re adding a new partner to your partnership, you may think the tough part is over once you find the right person. But there could be complex tax issues to consider. Continue Reading Growing your business with a new partner: Here are some tax considerations
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Advantages of keeping your business separate from its real estate
/in Tax/by KKB CPAsIt may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate
Cutoffs: When to report revenue and expenses
/in Tax/by KKB CPAsDoes your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses
Help ensure your partnership or LLC complies with tax law
/in Tax/by KKB CPAsGuaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law