Taxes on Real Estate Gains
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect real estate […]
Category: Tax
Business Taxation: What Lies Ahead?
Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s […]
Tax Responsibilities When Closing a Business
While many facets of the economy have improved this year, many factors have caused businesses to close their doors. If this is your situation, we can help you, including taking […]
Beware of Tax Scams on Social Media
Social media often takes the blame for spreading misinformation, sometimes for good reason. Recently, the IRS issued a warning to both individual and business taxpayers about false claims regarding various […]
Do You Need a Buy-Sell Agreement?
Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted […]
The Tax Consequences of Selling Business Property
You need to be aware of the tax implications of selling property used in your trade or business. Many complex rules can potentially apply. To simplify this discussion, let’s assume […]
2024 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may […]
Hiring Your Child to Work at Your Business This Summer
With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could […]
IRS Provides Recommendations to Protect Against Senior Scams
The IRS recently issued a press release (IR-2024-164) warning about the rising threat of impersonation scams targeting seniors where fraudsters imitate government officials to obtain sensitive personal information and money. […]
Ohio Expands Sales Tax Holiday
Ohio’s 2024 Sales Tax Holiday will run from midnight Tuesday, July 30, to 11:59 p.m. Thursday, August 8, an expansion from previous years. The Ohio General Assembly and Governor DeWine extended Ohio’s Sales Tax […]
Should You Convert Your Business Entity From a C to an S Corporation?
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and […]
The Tax Advantages of Including Debt in a C Corporation Capital Structure
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal […]
