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Targeting Overseas Earnings

By taxingtimes on Feb 5, 2015 in code, Congress, Foreign Operations, government, International, IRS, Obama care, Tax

By:  Amanda Wilson As I was driving in to work this morning, I was listening to a story on the radio about the country's aging infrastructure.   The interesting part (at least to a tax lawyer ), was the statement by Transportation Secretary Anthony...

Don't Break the Bank

By Amanda Wilson on Feb 3, 2015 in code, irc, IRS, LLC, Partnership Tax, Tax

By: Amanda Wilson Because of the significant flexibility and tax benefits associated with partnerships, many businesses utilize partnerships in some shape or form. For tax purposes, a partnership can be in the form of a general partnership, limited...

Is Your Compensation Reasonable?

By taxingtimes on Jan 12, 2015 in Business Owners, IRS, S Corporation, Tax

By Amanda Wilson If you are an employee of a company for which you are also an owner, you should consider reviewing your current compensation for its reasonableness.  It is very common for small businesses to be formed as Subchapter S corporations. ...

Considering a Future Like-Kind Exchange of Real Property?

By taxingtimes on Jan 12, 2015 in Real estate, government, Tax, Taxpayers

By:  Amanda Wilson If you are considering a future like-kind exchange of real property, proceed with caution. The tax code allows taxpayers to exchange property that they hold for investment or use in business for property of a like-kind without...