Blog
When A Loan Triggers A Tax Debt
Funds received as proceeds of a loan aren’t taxable as long as you’re expected to pay it back. However, the moment some or all of the debt is forgiven (and doesn’t need to be paid back), the...
YOU are not your business
When it’s time to sell your business, you might discover you’re tied too much of yourself into it. Your money, assets—even your reputation—can be so entwined in the business that they’re...
Unlucky Tax Strategies That Don’t Work
Have you ever heard about a tax strategy you thought was so crazy, it just might work? Here’s what we can tell you: If it’s illegal, the IRS has seen it before, and it’s only a matter of time...
More Lessons On Jury Awards Taxed As Ordinary Income
A recent court ruling held that a jury award of tort damages (including interest) that a cattle and dairy farmer received in a stray voltage lawsuit were ordinary income which should have been...
Don’t Overlook The R&D Tax Deduction
Maybe you’ve been challenged to build stronger, lighter, faster, or more environmentally friendly, energy efficient, or automation-enabled. Perhaps the architectural design of the home is...
The Skinny On Offshore Accounts
You've likely heard the term "offshore accounts" - perhaps holding your money in one has been recommended to you before. The name may conjure images of the Swiss Alps or a sandy Caribbean beach...
Travel, Parking, And Relocation Tax Changes
Feeling lost while navigating the new Tax Cuts and Jobs Act (TCJA) changes for business travel, parking and relocation? You’re not alone. Here are some of the top changes and what the...
New Temporary Tax Credit For Paid Family And Medical Leave
Are you an employer who provides paid family and medical leave to your employees? If you are, you may qualify for a new business tax credit through 2019. To be eligible to claim the...
Passing down your family business
Last month we talked about retiring from your business and the succession planning it requires. This month, I’d like to focus on keeping the business in the family. Is it your dream to pass...
Investing In Tax-Friendly Qualified Opportunity Zones
Among the tax code changes brought on by the Tax Cuts and Jobs Act of 2017 is a new tax-lowering investment tool called Qualified Opportunity Zones. Those willing to invest long-term in these...