Jan 30, 2020 | Income Tax
Buy-Sell Agreements Buy-sell agreements are usually part of a succession plan put in place to protect the financial interests of the owners of closely held companies and their heirs and to protect the company’s stability in case of a major event. Funding buy-sell...
Jan 29, 2020 | Income Tax
Watch your wallet: the median cost in 2018 for an assisted living facility was $48,000 and over $100,000 for nursing home care. If you could deduct these expenses, you’d substantially reduce your income tax liability—possibly down to $0—and dramatically reduce your...
Jan 27, 2020 | Income Tax
The simple maneuver of converting your personal residence to a rental property brings with it many tax rules, mostly good when you know how they work. The first question that arises when you convert a personal residence into a rental is how to determine the property’s...
Jan 15, 2020 | Income Tax
Employee Stock OptionsA stock option allows (but does not obligate) an employee to buy a specified number of shares of stock from a company for a specified price during a specified period of time. There are two categories of stock options.• Nonstatutory (nonqualified)...
