Stop! Think Before You Incorporate

We work with a lot of college student entrepreneurs, young entrepreneurs and first-time entrepreneurs.  We are often asked “..should we incorporate or form a Limited Liability Company (“LLC”)?”  Sometimes, these entrepreneurs have visited a lawyer first, and have already incorporated or formed an LLC. Based on...

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International Taxation Hot Issue – Repatriation

“…$1.4 trillion of corporate cash is trapped overseas…” “…Corporate America needs a tax holiday to repatriate these funds…” What does this mean?  Why should we care about this? To answer these questions, you need to know a little about International Taxation.  So, here is an example that should...

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Tax Plan Square Off: Romney vs. Santorum

Following the Iowa Presidential Caucus in early January, 2012 where only 8 votes separated candidates Mitt Romney and Rick Santorum, we thought it would be a good idea to compare their proposed tax plans.  We wanted to get very specific, though.  So, before we delved...

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IRS Targets Family Real Estate Transfers

It is not uncommon for family members to transfer (technically a gift, often subject to Gift Tax in the eyes of the IRS) real estate between each other for Estate Tax, Medicare planning or asset protection purposes.  Tax law states than any gift with a...

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The BEST tax deduction for Self-Employed

Attention self-employed with children under 18 years old - we have a great tax deduction for you. If you can justify employing your minor child in your business, you get the tax deduction on wages paid to them and your child picks up the income on...

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