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Buy-Sell Agreements

Buy-Sell Agreements

Jun 30, 2020 | Business

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...
Business Owners – Taking Money Out of a Business

Business Owners – Taking Money Out of a Business

Jun 23, 2020 | Business

Business Owners – Taking Money Out of a Business When taking money out of a business, transactions must be carefully structured to avoid unwanted tax consequences or damage to the business entity. Business owners should follow the advice of a tax professional to...
Audits

Audits

Jun 16, 2020 | Income Tax

Representation Individual taxpayers who are under audit by the IRS may attend the audit in person without any assistance from a tax professional. However, this can be a dangerous mistake. Although not officially stated, it is the job of an IRS Revenue Agent to conduct...
Business Management Tips

Business Management Tips

Jun 8, 2020 | Business

Online Business Resources www.sba.gov – The U.S. Small Business Administration (SBA) provides programs for businesses in the areas of technical assistance, training and counseling, financial assistance, assistance with government contracting, disaster recovery...
Audits

Business Entity Pros and Cons

Jun 1, 2020 | Income Tax

Business Entity Pros and Cons Sole Proprietorship Pros No formal creation process Easy to operate and dissolve Easy to integrate business use of home deductions No double taxation of profits Cons No liability protection, except through insurance Self-employment tax is...