Introduction Last month, we went over the first part of disaster planning for your business. It is clear that the weather is more violent than what has been typically seen. This increase in severe weather means more damage to buildings…
Introduction Last month, we went over the first part of disaster planning for your business. It is clear that the weather is more violent than what has been typically seen. This increase in severe weather means more damage to buildings…
“Interest Deduction” A district court in Texas has held an estate may deduct interest on a loan from a Family Limited Partnership (FLP) used to pay the estate tax. The decedent, who wanted to protect family assets from former spouses…
Q: In 2014, the new healthcare mandate will begin. How will this affect my business? A: This is not a one size fits all answer. Some employers will be unaffected, while others will see substantial changes. Generally, those with over…
If you lease the commercial real estate your business operates from, this might be a good time to re-negotiate a lower lease rate in exchange for a longer lease term. Also, consider negotiating several short options to renew your lease…
Introduction The fact of the matter is that, businesses in this country and all over the world face a gauntlet of peril. From rising fuel prices, rising commodity prices, clients filing bankruptcy on their payables and clients not paying to…
Employer Provided Cell Phones In a Notice, the IRS has caught up with the times making cellular phones a non taxable item. The Small Business Jobs Act of 2010 removed cellular telephones from treatment as listed property, a designation that…
Q: My father just passed away. Will I have to pay estate taxes on the value of the estate? A: Generally, the heir does not pay the estate tax. If there is an estate tax due, the estate is responsible for…
Most everyone has heard that the three most important factors in determining the value of real estate are Location, Location, and Location. It is equally true that the three most important factors in valuing an ongoing business are Cash Flow,…
Introduction How much do you want to put into your retirement account this year? With the arrival of the new tax year, retirement account contribution limits change. Depending on your retirement account, you may be able to contribute $5500, or…
Appraiser’s Documents The US Court of Appeals found that an IRS summons for an appraiser’s report was in good faith and resulted in the appraiser’s report being discoverable by the IRS. In the case, the taxpayer had an appraisal done…
