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 […]
Post Author: Ed Decker CPA MT
There Still May Be Time to Reduce Your Small Business 2023 Tax Bill
In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You still have time to take […]
Guaranteeing a Loan to Your Corporation? There May Be Tax Implications
Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of […]
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 off for a hefty profit, it could […]
Key Tax Issues in M&A Transactions
Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in North America in 2022 was down […]
Many Factors are Involved When Choosing a Business Entity
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you — a C […]
Possible tax consequences of guaranteeing a loan to your corporation
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser, or indemnitor of a debt obligation of […]
An S corporation could cut your self-employment tax
If your business is organized as a sole proprietorship or as a wholly-owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a […]
PPP Loans Have Reopened: Let’s Review the Tax Consequences
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 […]
Can Your Business Benefit From the Employee Retention Tax Credit?
COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit, which was […]
New CAA Provides Favorable Tax Breaks for Businesses
The COVID-19 relief bill, known as the Consolidated Appropriations Act of 2021 (CAA), signed into law on December 27, 2020, contains numerous favorable tax breaks for businesses. Here are some […]
QBI Deduction Basics & a Tax Tip That Might Help You Qualify
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the […]
