Business Succession and Estate Planning Should Be Inseparable
If you’re a business owner, you need an estate plan that effectively addresses the tax impact of transferring your ownership interests to the next generation.
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Tax Considerations When Choosing a Business Entity
Are you in the process of starting a business or contemplating changing your business entity? If so, you’ll need to decide how to organize your company.
Does the Corporate Transparency Act Apply to Your Business?
Under the Corporate Transparency Act (CTA), many businesses are subject to new reporting requirements that went into effect on January 1, 2024.
3 Ways Your Business Can Uncover Cost Cuts
Every business wants to cut costs, but it isn’t easy. We’re talking about clear and substantial ways to lower expenses, thereby strengthening cash flow and giving you a better shot at strong profitability. Obvious places to slash costs (such as wages, benefits and overhead) often aren’t viable options because the very stability of your operation…
Four ways corporate business owners can help ensure compensation is “reasonable”
If you own a C corporation, you know there’s a tax advantage to taking money out as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but it can’t deduct dividend payments. Therefore, if funds are paid as dividends, they’re taxed twice, once to the corporation…