by Brian Hare, CPA, CGMA | May 3, 2022 | Tax
There are many tax mechanics that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a...
by Brian Hare, CPA, CGMA | May 3, 2022 | Tax
If you donate valuable items to charity, you may be required to get an qualified appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property...
by Brian Hare, CPA, CGMA | Apr 20, 2022 | Business
Is your business ready to seek funding from outside investors? Perhaps you’re a start-up that needs money to launch as robustly as possible. Or maybe your company has been operating for a while and you want to pivot in a new direction or just take it to the next...
by Brian Hare, CPA, CGMA | Apr 19, 2022 | Tax
Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to it. Let’s...
by Brian Hare, CPA, CGMA | Apr 14, 2022 | Tax
Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before...
