by Susan Balcomb | Apr 24, 2018 | Tax Planning
Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like kind” exchange. However, the Tax Cuts and Jobs Act (TCJA) reduces the types of property...
by Susan Balcomb | Apr 1, 2018 | Tax Planning
Statistical information on pension plans is available. The U.S. Department of Labor’s Employee Benefits Security Administration has released its findings from the Form 5500 series reports for the 2015 plan year. The new publication provides a statistical summary, in a...
by Susan Balcomb | Mar 30, 2018 | Tax Planning
http://bit.ly/2GyFdys IRS released a sample notice for charging employer shared responsibility payments. Sample Notice CP220J is to be used to notify applicable large employers (ALEs) that the IRS has charged them, for one or more months, an employer shared...
by Susan Balcomb | Mar 13, 2018 | Tax Planning
If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax Cuts and Jobs Act...
by Susan Balcomb | Nov 21, 2017 | Tax Planning
If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know that these structures offer liability protection and flexibility as well as tax advantages. But they once also had a significant tax disadvantage: The IRS used to...
by Susan Balcomb | Nov 20, 2017 | Tax Planning
Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and profit-sharing plans can hamper...
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