Federal Income Tax
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A refresher on the trust fund recovery penalty for business owners and executives
One might assume the term “trust fund recovery penalty” has something to do with estate planning. It’s important for business owners and executives to know…
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What types of expenses can’t be written off by your business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically…
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What are the tax implications of winning money or valuable prizes?
If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached…
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It’s important to understand how taxes factor into M&A transactions
In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s…
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Spouse-run businesses face special tax issues
Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue. An unincorporated…
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The advantages of using an LLC for your small business
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets.…
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