Buy-Sell Agreements

Buy-Sell Agreements

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

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...
Business Management Tips

Business Management Tips

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...
Inventory/ Cost of Goods Sold

Inventory/ Cost of Goods Sold

Inventory An inventory is necessary to clearly show income when the production, purchase, or sale of merchandise is an income-producing factor. If a taxpayer must account for an inventory, the accrual method of accounting must be used for purchases and sales, unless...
Answers to Common Section 199A Questions

Answers to Common Section 199A Questions

For most small businesses and the self-employed, the 20 percent tax deduction from new tax code Section 199A is the most valuable deduction to come out of the Tax Cuts and Jobs Act. The Section 199A tax deduction is complicated, and many questions remain unanswered...