Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses,… Read More »Reasons an LLC might be the ideal choice for your small to medium-size business
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is that these entities offer federal… Read More »Navigating tax complexities: Craft partnership agreements and LLC operating agreements with precision
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of… Read More »Understanding taxes on real estate gains
After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. You… Read More »Emil @ CPA Manufacturing gives you Tax tips when buying the assets of a business
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to admit a new… Read More »Growing your business with a new partner: Here are some tax considerations
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution… Read More »Emil @ CPA Manufacturing: Tax-wise ways to take cash from your corporation while avoiding dividend treatment
If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership… Read More »Emil @ CPA Manufacturing: Divorcing business owners should pay attention to the tax consequences
Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of… Read More »Guaranteeing a loan to your corporation? There may be tax implications
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide… Read More »Planning ahead for 2024 by CPA Manufacturing: Should your 401(k) help employees with emergencies?
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax… Read More »CPA Manufacturing: Receive more than $10,000 in cash at your business? Here’s what you must do
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or maybe you’re launching a… Read More »Emil @ CPA Manufacturing wrote: The advantages of using an LLC for your small business
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could… Read More »Emil @ CPA Manufacturing: A tax-smart way to develop and sell appreciated land