President Obama released his FY2013 budget plan on Monday, February 13, 2012. As expected, it contained the usual assaults on the 1% of taxpayers (Adjusted Gross Incomes above $344K) who are already paying close to 40% of the total personal taxes collected. One of the “usual...
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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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“…$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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After we published our blog on the Romney vs. Santorum tax plans, we were inundated with requests to add the Gingrich tax plan to the analysis. So, below is an updated chart that includes the results of the Gingrich tax plan. Our methodology remained the...
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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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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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