[bt_section][bt_row][bt_column width="1/1"][bt_text ai_prompt_helper="eyJrZXl3b3JkcyI6IiIsInRvbmUiOiIiLCJtb2RlIjoiZ2VuZXJhdGUiLCJsYW5ndWFnZSI6IiIsImxlbmd0aCI6IiJ9" bt_bb_toggled="false"]Owning an S corporation that holds a rental property as its primary or sole asset is a common structure for individuals seeking to manage their real estate investments efficiently. However, one of the primary concerns for owners of such businesses is what...
If your business operates as a regular C corporation, it’s crucial to be aware of the accumulated earnings tax (AET). This lesser-known tax can pose significant financial risks, and failing to navigate it properly may lead to hefty penalties. Understanding the ins and outs of...
[bt_section][bt_row][bt_column width="1/1"][bt_text ai_prompt_helper="eyJrZXl3b3JkcyI6IiIsInRvbmUiOiIiLCJtb2RlIjoiZ2VuZXJhdGUiLCJsYW5ndWFnZSI6IiIsImxlbmd0aCI6IiJ9" bt_bb_toggled="false"] Worrying about an IRS audit can feel daunting, but there’s good news: the IRS has a limited time frame to audit your returns and assess any additional taxes. This period, known as the Assessment Statute Expiration Date (ASED), provides a clear...
[bt_section][bt_row][bt_column width="1/1"][bt_text ai_prompt_helper="eyJrZXl3b3JkcyI6IiIsInRvbmUiOiIiLCJtb2RlIjoiZ2VuZXJhdGUiLCJsYW5ndWFnZSI6IiIsImxlbmd0aCI6IiJ9" bt_bb_toggled="false"] You can accumulate federal income-tax-free earnings with a Section 529 college savings plan account. (more…)
[bt_section][bt_row][bt_column width="1/1"][bt_text ai_prompt_helper="eyJrZXl3b3JkcyI6IiIsInRvbmUiOiIiLCJtb2RlIjoiZ2VuZXJhdGUiLCJsYW5ndWFnZSI6IiIsImxlbmd0aCI6IiJ9" bt_bb_toggled="false"] If you're trying to decide between leasing and buying your next business vehicle, one question is probably foremost in your mind: Which option costs less? Unfortunately, comparing the costs of leasing and buying isn't as simple as it looks. To do...
[bt_section][bt_row][bt_column width="1/1"][bt_text ai_prompt_helper="eyJrZXl3b3JkcyI6IiIsInRvbmUiOiIiLCJtb2RlIjoiZ2VuZXJhdGUiLCJsYW5ndWFnZSI6IiIsImxlbmd0aCI6IiJ9" bt_bb_toggled="false"] The Setting Every Community Up for Retirement Enhancement 2.0 Act, which we will call SECURE 2.0, became law in late 2022. SECURE 2.0 is the sequel to the original SECURE Act, which became law back in 2019. SECURE 2.0 includes a...
