Dec 05 Allocating Between Land and Building when Acquiring Rental Real Estate
How purchase value is divided up between land and buildings impacts the depreciation tax benefits you get as a real estate owner. Here's what you need to know....
Jun 05 Are Club Dues a Deductible Business Expense?
A question I am often asked by my clients is whether they can deduct the dues for clubs at which they entertain customers or that otherwise may be relevant to their business. Here's what you need to know before you pull out your golf clubs....
Feb 02 Key Features of the Proposed Trump Tax Plan
President Trump has proposed a detailed tax plan that will revise and update both the individual and corporate tax codes. Here are some of the key plan elements that could affect individuals and small business owners, if enacted into law....
Jan 23 2017 NJ Tax Changes Business Owners Need to Know
In my last post I reported on key federal tax changes that small business owners need to know about. This post covers three significant tax changes in New Jersey: the sales tax decrease, Urban Enterprise Zone expirations, and estate tax changes....
Jan 06 2017 Federal Tax Changes Business Owners Need to Know
Tax season is upon us, and with it comes a variety of changes that business owners need to know about. This post shares an overview of some of the most important changes. ...
Nov 22 How to Ruin a Like-Kind Exchange
I had a taxpayer call me about the sale of a rental property. Here's the big mistake he made that cost him big $$$ because it couldn't be structured as a 1031 exchange....
Nov 11 Is your small business prepared for the new employment tax filing deadline?
In an effort to combat fraud, the Protecting Americans from Tax Hikes (PATH) Act of 2015 was enacted. It revises the filing deadline for Form W-2 and certain types of Form 1099. Without proper planning, these revisions can cause some real stress for small businesses....
Oct 24 Tax Planning Strategies – Minimizing 2016 Individual Income Taxes
It is never too early to get a jump start on tax planning. Why not start now and minimize end of the year holiday stress? These four tax strategies could help reduce 2016 taxes....
Nov 22 Understanding IRS Rules for Self-Rentals
If you rent property to one of your business entities, that "self-rental" arrangement may have negative tax consequences. Here's what you need to know about the tax effects of self-rentals....
May 10 What is Risk? How Does it Affect Business Value?
If you're buying or selling a business, you need to understand the risks involved. Here's what you need to know about the impact of risk on business valuation....