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If your business has co-owners, you probably need a buy-sell agreement

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.

Consider borrowing from your corporation but structure the deal carefully

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.

SECURE 2.0: Which provisions went into effect in 2024?

Now is the time to get up to speed on 2024 SECURE 2.0 changes. Here are several to consider.

Why audited financials matter

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.

Figuring corporate estimated tax

An important deadline for quarterly federal estimated tax payments is coming up on June 17. Here are the methods for computing payments for corporations.

Thinking ahead to your next Form 990

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.

Tax tips when buying the assets of a business

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.

Should you convert your business from a C to an S corporation?

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.

California Pass-Through Entities: The first 2024 PTE payment is due June 15

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.

Insights

If your business has co-owners, you probably need a buy-sell agreement

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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

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Consider borrowing from your corporation but structure the deal carefully

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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

Read more

Why audited financials matter

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