Tax & IRS
The Supreme Tax
On June 20th, 2024, the US Supreme Court ruled for the government in Moore v. U.S. The issue at hand was the legality of a provision of the 2017 tax reform law called the […]
Tax & IRS
Tax & IRS
Tips on Managing Taxes as a Small Business
Tax season can be intimidating to small business owners. However, if you take the proper steps beforehand and know what to expect, filing your company’s information can be a quick and painless process. Here […]
Tax & IRS
Tax Hikes are Looming in 2022. Is Your Company Ready?
If you’re a business owner like myself, you’re probably ready to ring in a new year, moving on from the lingering effects of the COVID-19 pandemic. But before that happens, make sure your business is […]
Tax & IRS
Why the IRS’ Voluntary Certification Program for Professional Employer Organizations Matters
Given the history of the Professional Employer Organization (PEO) industry, it is understandable why any opportunity for a PEO to demonstrate its professional and fiscal integrity would be welcomed by responsible PEOs and those […]
Tax & IRS
Are You A Target For The IRS?
Whether you are the owner of an IT consulting firm that employs a few hundred people or a boutique owner that personalizes holiday gifts, the chance of being audited by the Internal Revenue Service (IRS) […]
Tax & IRS
For Sale: Tax Consequences of Selling a Business
Selling a business has its pros and cons —you’ll probably have more money than you’ve ever had before (unless you’ve sold other businesses), but you’ll be sharing some of your profits with the government. […]
Tax & IRS
A Trip To The Candy Store
Living in the country as a child, I always looked forward to the occasional trip to the drug store, where I was eager to spend my very well-deserved earnings. (I refer to these as earnings […]
Tax & IRS
The Canadian General Anti-Avoidance Rule
Rule: Canadians must tax plan now! It is absolutely essential that small business owners in Canada tax plan now. Why you may ask? Because Section 245 of the Income Tax Act could end up costing […]
Tax & IRS
IRS Disaster Assistance
A “disaster” is defined in one dictionary as “a calamitous event, especially one occurring suddenly and causing great loss of life, damage, or hardship, such as a flood, or an airplane crash.” The word “disaster” […]
Tax & IRS
Plan Ahead
Do you trust the government enough… to do your estate planning? Lindsay Lohan in (and out of and back in) rehab, Charlie Sheen’s party life, the economy on the upswing, the economy on the downturn… […]
Tax & IRS
Using The Canadian Family Trust For Real Tax Savings
Canadian family trusts have become part of Canadian folklore as this famous family has one and that famous family has one. We have all heard people say, “Everybody is using one and it’s paying for […]
Tax & IRS
Slouching Towards Federal Gomorrah But Looking For Private Paradise
As the shadowy fingers of a double-dip recession tighten their embrace on the United States, Washington is attempting to turn on the lights by trumpeting its usual litany of Keynesian remedies. You can hardly read […]
Tax & IRS
Navigating The Tax Policy Maze
As 2010 draws to a close, President Obama has proposed to extend and increase bonus depreciation through the end of the 2011 tax year, retroactive to September 8, 2010. This latest proposal is the most […]
Tax & IRS
Who Wouldn’t Mind An Interest-Free Loan?
The importance of tax deferred retirement vehicles (and tax deferrals in general) and how they can positively effect your retirement and your business. One of the most important considerations in tax planning is not just […]
Tax & IRS
The Gathering Storm
“I am not afraid of the storms for I am learning how to sail my ship.” – Louisa May Alcott Longtime residents of coastal areas know very well to prepare for a hurricane long before […]
Tax & IRS
What’s The Best Structure For My Company?
As you may know, there are different types of entities: the limited liability company (LLC), the corporation (subchapter S or C), the sole proprietorship and the partnership. What’s the best one? To put it simply, […]
Tax & IRS
Maintaining Proper Minute Books & Corporate Records – A Canadian Perspective
The following article contains substantial contributions from Donna Kubota and Sandra Corrigan—they provide invaluable contribution in the practice of Ontario law. This article focuses on the need for owners of small- and medium-sized companies to […]
Tax & IRS
Under Siege: Asset Protection In Tough Times
You cut costs and became leaner to face your competitors head-on in today’s challenging environment, but is that really all you can do? Congratulations! You are a business owner—the king of your castle, master of […]
Tax & IRS
Tax Effects Of Health Care Reform On Individuals & Businesses
Given that one of the most drastic reforms to our nation’s health care system is likely to take place sometime during the coming year, it is important for individual and corporate taxpayers to have a […]
Tax & IRS
Tax Planning In A Recession
Given the current and past economic crisis, many businesses are in serious danger as revenues are falling and profits disappearing. While even leading economists disagree sharply as to the expected length of the current recession, […]
Tax & IRS
Ensuring the Validity Of Shareholder Loans
It has become common for shareholders of closely held businesses to infuse and extract cash from their companies on a regular basis. These advances and withdrawals are often categorized as shareholder loans, but the documents […]