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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...

Oops, They Did It Again – The Tax Version

By taxingtimes on Dec 17, 2014 in Congress, government, IRA, Tax, tax provision

By: Amanda Wilson Every year, as the countdown to the new year approaches, Congress races to extend expiring tax provisions. Last night, the Senate finally caught up with the House and approved a bill extending certain beneficial tax provisions. The...

Can or Should an LLC be a Shareholder of an S Corporation?

By taxingtimes on Dec 11, 2014 in LLC, S Corporation, Tax

By: Amanda Wilson Many private companies utilize S corporations in their ownership structure, as they provide beneficial tax treatment. In order to qualify as an S corporation, the corporation can have only certain types of shareholders....