Could an FLP help your business succession plan?
One of the biggest concerns for business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time taxwise to start …
Tax Break for Kid’s Camp
Among the many great challenges of parenthood is what to do with your kids when school lets out. Do you keep them at home and try to captivate their attention …
Deducting Charitable Gifts Depends on a Variety of Factors
Whether you’re planning to claim charitable deductions on your tax return or make donations this year, be sure you know how much you’re allowed to deduct. Your deduction depends on …
Did you repair or improve business property?
Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The …
Deducting Qualified Business Income
The TCJA created a new deduction for small business owners who operate pass-through entities. That includes domestic companies operated as sole proprietorships or through S corporations, partnerships, certain LLCs, trusts, …