Some laws remain relatively unchanged for decades, if not centuries. However, tax laws are not timeless and must reflect an ever-changing global economy, complex government changes,...
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
Carried interest is part of the income obtained when a private equity fund sells an asset. Sometimes called "carry," it is part of the net capital gains of the sale fund....
The Tax Cuts and Jobs Act (TCJA) of 2017 reduced the federal income tax rate for C Corps to 21%, effective January 1, 2018. With this tax rate reduction, business owners can assess...
The Internal Revenue Code is configured to offer numerous tax reductions to individuals and businesses. Even the IRS recognizes that you have to save money to live and manage your...
Business owners must file their tax and send what is due to the IRS the same way individual taxpayers do it. Companies must pay taxes on their profit alongside withholding taxes from...
Posted by Tim Thompson CPA PLLC on 07/24/2020
What is Liquidation?Liquidating a business is the process by which business comes to an end and no longer exists. This can happen for several reasons and can be voluntary or involuntary....
In the past couple of months, the entire world has taken a hit from the Novel coronavirus. Unfortunately, not only our health is affected, the economy and everything that has to do...
REIT or Real Estate Investment Trust is a hands-off opportunity to get property. You can decide if it is a good investment idea for retirement by understanding how it works What...
Posted by Advanced Accounting & Tax Planning on 06/10/2020