tax
Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain, and it gives the owner direct access to profits without having to…
Businesses in economically distressed communities often have difficulty obtaining capital for expansion, equipment, facilities and other investments. The New Markets Tax Credit (NMTC) encourages private investment in these underserved areas…
Tax-efficient wealth transfer using FLPs A family limited partnership (FLP) can be an effective estate and income tax-planning tool when properly structured. By forming an FLP to hold a family…
For families focused on long-term wealth preservation, dynasty trusts can be a powerful planning tool. When properly structured, these trusts can protect wealth and help reduce exposure to federal gift,…
Becoming a new parent is life-changing in many ways, and your tax situation is no exception. While sleepless nights and new routines often take center stage, there are tax breaks…
It’s common for related companies (e.g., brother-sister or parent-subsidiary) to lend money to one another, particularly when one needs financial support. To ensure the transaction is treated as a loan…
Tax problems can happen to even the most organized small business owners. A cash flow crunch, an unexpected tax notice, a missed filing deadline or a payroll tax oversight can…
Start-ups must choose a legal entity for their business activities. The type of entity you select affects how the business is taxed and who may be held personally liable for…
Do you operate a side gig in addition to your regular day job? Whether you’ve turned a love for crafting into an online store or you play the guitar at…
If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking about selling a property. If it has appreciated significantly, a…
If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements for sole proprietors and independent…
Many modern businesses rely on intangible assets, such as goodwill, trademarks and customer lists. But the IRS doesn’t treat all intangibles the same way. Questions about how these assets are…
Expanded disaster tax relief Two recent tax law changes strengthen relief for taxpayers affected by natural disasters. Beginning in 2026, personal casualty loss deductions are no longer limited to federally…
Significant appreciation in business and investment real estate can create both opportunities and challenges. The tax liability associated with the sale of an appreciated property can make it challenging to…
Families looking for long-term, tax-advantaged ways to help children build wealth now have a new option to consider. The One Big Beautiful Bill Act (OBBBA) introduced Trump Accounts (TAs), a…