Tax Planning vs. Financial Planning: Why You Need to Understand the Difference
Many business owners assume tax planning is something to think about later – often lumped together with retirement or viewed as a byproduct of financial
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Tax Planning for Retirement Plans: The Underestimated Value of Social Security
A common retirement planning myth is that Social Security benefits won’t be around for much longer. Generation X, Millennials, and Gen Z are jokingly told
Tax Planning for Retirement Plans: Roth IRAs and the Five-Year Rule
Roth IRAs have become a popular option for flexible retirement planning. A benefit to this type of retirement account is the fact that contributions to
Tax Planning for Retirement Plans: Understanding the Main Types of Retirement Accounts
Understanding the benefits and drawbacks of different retirement plans is crucial to long-term tax planning. Most retirement plan investment earnings are taxed at ordinary income
Tax Planning for Retirement Plans: Weighing the Tax Consequences for Early Withdrawals
When the need for emergency funds arises, many taxpayers may be tempted to turn to their retirement accounts. However, if the account holder has not
Tax Planning for Business Deals: What to Consider When Representing the Seller of an S Corporation
As a tax advisor, you will need to employ different strategies when you are representing a buyer vs. seller in the sale of a company,
Tax Planning for Business Deals: What to Consider When Representing the Buyer
As a tax advisor, you will need to employ different strategies when you are representing a buyer vs. seller in the sale of a company.
Representing the Buyer vs the Seller: Tax Planning for Business Deals
Tax planners need to employ different strategies depending on whether they’re representing the buyer or the seller in the sale of a company. Buyers and
Tax Planning for a Business Sale: Factoring in Goodwill
The term “goodwill” might initially bring to mind donating items to charity or even Christmas carols. However, in the world of tax accounting, goodwill refers
Partnership Tax Complications: Navigating Negative Capital Accounts and DROs
Starting with tax year 2020, the IRS is requiring partnerships to report their capital accounts using the tax basis method. Capital accounts show the equity
Tax Basis Method for Partnerships: The Transactional Approach
At the end of 2020, the IRS announced important changes to their compliance rules for partnerships. Starting with tax year 2020, partnerships must report their