General News

Filing Deadlines for 2018 Returns

Filing Deadlines for 2018 Returns Tax Day varies depending on how your business is set up. Here are the basics. For Sole Proprietorships and Single-Member LLCs The 2018 filing deadline for an individual who operates a business as a sole proprietorship or as a single-member limited liability company (LLC) that’s treated as a sole proprietorship…

Read More

Divorce Cases: Active versus Passive Appreciation

Divorce Cases: Active versus Passive Appreciation It’s common in divorce cases for an interest in a closely held business or professional practice to be the marital estate’s most valuable asset. In many states, when the owner-spouse brings this asset to the marriage, a valuator may be called upon to distinguish between active appreciation in the…

Read More

5 Last-Minute Ideas to Lower Your 2018 Taxes

It’s almost Tax Day! But don’t despair; there still may be time to make some moves that will save taxes for your 2018 tax year. Here are five tax-saving ideas to consider. 1. Choose to Deduct State and Local Sales Taxes If you live in a jurisdiction with low or no personal income tax or…

Read More

Buying Out an Ex-Spouse’s Stock in a Closely Held Firm

Buying Out an Ex-Spouse’s Stock in a Closely Held Firm Let’s say divorcing spouses own part of the stock in a closely held corporation. One of them now want to buy out the other party’s shares by transferring some assets in exchange for the stock. As long as the transfer happens before the divorce is…

Read More

Tax Law Changes Affecting Partnerships, LLCs and Their Owners

Tax Law Changes Affecting Partnerships, LLCs and Their Owners The Tax Cuts and Jobs Act (TCJA) brought many modifications to the tax laws that affect partnerships, limited liability companies (LLCs), and their owners. Here’s a look at the key changes. Technical Termination Rule Repealed Under prior law, a partnership (or LLC treated as a partnership…

Read More

Scroll Up