partnership

Don’t Overlook Tax Considerations When Selling Your Business

When the COVID-19 pandemic first hit, economic uncertainty caused many business owners contemplating a sale — as well as many prospective buyers — to put their plans on hold. Now…

The Next Estimated Tax Deadline is January 15 if you Have to Make a Payment

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The…

Tax Responsibilities if Your Business is Closing Amid the Pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of…

Do You Own a Closely-Held Family Business?

Sec. 6166 may help ease the sting of estate taxes Assets such as an illiquid closely-held business can pose unique estate planning challenges. Indeed, even with the gift and estate…

The Proper Care and Feeding of Your S Corporation

Diligence required to avoid inadvertent termination and loss of tax benefits The S corporation continues to be a popular entity choice, combining the liability protection of a corporation with many…

Excess Business Loss Rule May be Unfavorable to You

Sole proprietorships and pass-through entity structures, which include partnerships, S corporations and certain limited liability companies (LLCs), provide owners with some valuable tax benefits, such as avoidance of double taxation…

Partnerships: If You’re Audited, Will You be Ready?

The Bipartisan Budget Act of 2015 established a new “centralized audit” regime for partnerships, including LLCs taxed as partnerships. Although the new audit rules apply to partnership tax returns for…

How Entrepreneurs Must Treat Expenses on Their Tax Returns

Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open…

construction pass-through regulation deduction

Final Pass-Through Deduction Regs Offer Welcome Guidance

In January, the IRS issued final regulations under Internal Revenue Code Section 199A. This section allows owners of pass-through entities — sole proprietorships, partnerships, limited liability companies and S corporations…

Beware the Ides of March – If You Own a Pass-Through Entity

Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes.…

Subscribe to Our Newsletters