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Author : State Bar of Arizona
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.:/5 (547 download)
Download or read book Tax Traps in LLCs written by State Bar of Arizona and published by . This book was released on 2009 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : State Bar of Arizona. Continuing Legal Education
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (486 download)
Download or read book Avoiding Tax Traps in LLCs written by State Bar of Arizona. Continuing Legal Education and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Larry Tunnell
Publisher : John Wiley & Sons
ISBN 13 : 1119748739
Total Pages : 208 pages
Book Rating : 4.1/5 (197 download)
Download or read book Advanced Tax Strategies for LLCs and Partnerships written by Larry Tunnell and published by John Wiley & Sons. This book was released on 2020-08-04 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are you ready to master the advanced concepts of partnership taxation? Provide your clients with valuable advice and tax planning strategies and gain a working knowledge of the Internal Revenue Code's sophisticated partnership tax rules and regulations. This book takes a deep dive into the complexities of partnership tax law. It includes step-by-step examples to help guide you through the complicated world of advanced partnership and LLC tax law. Some of the many concepts covered in this course include special allocations, liquidating and non-liquidation distributions, property basis calculations under various scenarios, and sales of a partnership interest.
Author : Ethan D. Millar
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book State Taxation of Llcs is Not Always Black and White written by Ethan D. Millar and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this article is to identify and discuss some of the major state tax traps and planning opportunities involving LLCs and their members, while providing a overview of the general rules governing this area. These traps and opportunities often arise due to certain complexities and ambiguities in state tax law. For example, in most states, the treatment of LLCs for non-income tax purposes (e.g., sales/use or real property transfer tax purposes) does not conform to federal law, and therefore transfers of property to or from LLCs that may be nontaxable for federal and state income tax purposes could trigger other types of taxes. Conversely, an asset acquisition that is taxable for income tax purposes can often be structured using LLCs to avoid other types of taxes. Differing state apportionment methods can also create traps (such as double taxation) or opportunities (such as nowhere income) for state tax planners. This article also examines several grey areas of taxation which, although they may not necessarily present planning opportunities, may create potentially viable defenses for certain taxpayers under audit. This article focuses on Georgia's tax system, as that system is fairly representative of the tax systems of many other states, but also discusses alternative rules or approaches taken by other states with respect to the issues discussed in this article. Many of these issues have been significantly affected by recent developments in the law.
Author : Larry Tunnell
Publisher : John Wiley & Sons
ISBN 13 : 1119722322
Total Pages : 256 pages
Book Rating : 4.1/5 (197 download)
Download or read book Taxation Essentials of LLCs and Partnerships written by Larry Tunnell and published by John Wiley & Sons. This book was released on 2020-06-16 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book helps addresses the tax consequences of the most common transactions engaged in by limited liability corporations (LLCs)and partnerships. You will develop a level of comfort with the basic conceptual framework underlying partnership and LLC taxation, as well as gain an explanation of the tax consequences associated with issues most frequently confronted by tax practitioners. Topics covered include: basic tax structure of partnerships and LLCs; electing to be taxed as a partnership: "check-the-box" rules; tax consequences of partnership or LLC formation; partnership distributions; compensatory payments to partners; at-risk and passive activity limits; profit and loss allocations: general rules and restrictions; and reporting taxable income for partnerships and LLCs.
Author : Sydney S. Traum
Publisher : Wolters Kluwer
ISBN 13 : 0735581517
Total Pages : 824 pages
Book Rating : 4.7/5 (355 download)
Download or read book The S Corporation Answer Book written by Sydney S. Traum and published by Wolters Kluwer. This book was released on 2008-12-17 with total page 824 pages. Available in PDF, EPUB and Kindle. Book excerpt: This quick-reference manual lets you help clients take full advantage of their S corporation status and minimize their taxes. it leads you directly to authoritative information on every aspect of the S corporation, enabling you to: Arm the S corporation against the potential tax traps hidden in the Small Business Tax Protection Act. Maximize the tax benefits of S corporation status. Make a qualified Subchapter S Subsidiary (QSub) election. Identify dispositions that will trigger the built-in gains tax. Avoid added tax liability or loss of S corporation status from passive investment income. Capitalize on the permissible differences in stock rights to facilitate estate planning and ownership transfers. Determine allocation of income, losses, and deductions in the termination year of the S corporation . Plus, there are citations To The controlling rules, regulations, and court decisions that will save you hours of research.
Author : Wear
Publisher :
ISBN 13 : 9781949535709
Total Pages : pages
Book Rating : 4.5/5 (357 download)
Download or read book The 7 Tax Traps written by Wear and published by . This book was released on 2019-07-11 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Florida Bar. Continuing Legal Education
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (786 download)
Download or read book Current LLC and Partnership Tax Strategies, Traps and Tips written by Florida Bar. Continuing Legal Education and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark P. Gergen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Potential Tax Traps in Liquidating a Family Limited Partnership written by Mark P. Gergen and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this report, Gergen explains that several tax traps await in subchapter K if appreciated assets are passed down through a family limited partnership at a discounted value. When assets are distributed to the heirs non pro rata - that is, the assets are divided among the heirs - much and perhaps even all of any precontribution gain will be recognized on the distribution under sections 704(c)(2), 731(c), and 737. Some have argued a refuge may be found in a contributed property exception in sections 731(c) and 737. In a non-pro-rata liquidation this exception is a partial refuge at best, for even if it applies to a transferee, much precontribution gain still will be recognized under section 704(c)(2). Moreover, says Gergen, there is good reason to think the distributed property exception in sections 731(c) and 737 does not apply to a transferee, in which case all precontribution gain will be recognized. The trap in section 704(c) can be avoided by distributing assets pro rata. But the trap in section 737 still awaits in a pro rata liquidation if the contributed property exception does not apply to a transferee. The best advice, he says, is patience for the traps in sections 704(c)(2) and 737 can be avoided by leaving assets in the partnership for seven years. But, he warns, you must still beware the trap in section 731(c).
Author : Eric Freeman, CPA, MACC
Publisher : RDA Press LLC
ISBN 13 :
Total Pages : 146 pages
Book Rating : 4.9/5 (895 download)
Download or read book Tax Strategies for Everyone written by Eric Freeman, CPA, MACC and published by RDA Press LLC. This book was released on 2024-03-03 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: ARE YOU PAYING TOO MUCH IN TAXES? Every year, millions of Americans pay more taxes than they should. Are you one of them? It’s time to stop overpaying and start taking control of your tax bill. In easy-to-understand language, Tax Strategies for Everyone shares expert secrets for minimizing taxes. You’ll discover: • The most common tax traps and how to avoid them • How to use tax credits to lower your taxable income • Why starting a part-time side business is a great way to lower your tax bill • Tips for turning personal expenses into business deductions • How you can transform your home into a tax shelter (and make millions tax-free by moving) • What to do—and what not to do—if you’re audited by the IRS • Smart ideas to boost retirement income—and pay zero taxes • The best ways to transfer wealth to your loved ones without triggering income or estate taxes Tax breaks aren’t just for the rich. Whether you’re an employee, a freelancer, or a business owner, there are plenty of tactics you can use to minimize taxes legally and ethically. Packed with expert tips and tricks, Tax Strategies for Everyone will help you lower your tax bill so you can keep more of your hard-earned money.
Author : Jason Watson
Publisher :
ISBN 13 : 9780692279649
Total Pages : 156 pages
Book Rating : 4.2/5 (796 download)
Download or read book Taxpayer's Comprehensive Guide to LLCs and S Corps written by Jason Watson and published by . This book was released on 2014-08-26 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of KnowledgeBase articles on the Watson CPA Group website. The articles touched on basic topics such as how to elect S Corp status, payroll, reasonable salary determination, retirement planning, health care, fringe benefits and liability protection.Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. The articles were grouped and relabeled as the Taxpayer's Comprehensive Guide to LLCs and S Corps which grew to 39 pages in its first edition.Time marched on, and more information was added to the first edition such as expanded retirement planning concerns, health care options after the Affordable Care Act and business valuations including exit strategies. Boom, we now had our second edition at over 100 pages. At that point it was suggested by some clients and colleagues to convert the PDF into an eBook as well as paperback. So here we are.. Each week we receive several phone calls and emails from small business owners across the country who have read our Taxpayer's Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you.This book will show you how to reduce your self-employment taxes through an S Corporation election and how to use your corporation to your retirement and fringe benefit advantage. You will also learn the operational considerations of an S Corp plus the 185 reasons you should NOT elect S Corp status. Want to buy or sell a business? That's in here too.This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of the precise words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.
Author : Greg Neill
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.:/5 (11 download)
Download or read book Company Distributions written by Greg Neill and published by . This book was released on 2017 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the challenges of determining the tax treatment or transfers of value from a company to the shareholders. Looks at 12 situations where there are 'tax traps'. Includes case studies.
Author : Jeffery Jensen
Publisher : McGraw Hill Professional
ISBN 13 : 0071786074
Total Pages : 258 pages
Book Rating : 4.0/5 (717 download)
Download or read book Tips & Traps When Incorporating Your Business written by Jeffery Jensen and published by McGraw Hill Professional. This book was released on 2005-09-20 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tactics for small business owners to incorporate on their own and reap big rewards Tips & Traps When Incorporating Your Business is for millions of small business owners who want to incorporate their businesses but are intimidated by the legal complexities and fees associated with the process. The authors clearly describe the types of corporations and explain the legal and tax advantages of each. Then, following the acclaimed Tips & Traps format, they: Walk readers step-by-step through the process--from picking a name to filing paperwork, issuing shares, and running shareholder meetings Supply samples of all the necessary forms, agreements, and other documents Provide checklists covering legal, financial, and tax-related aspects of incorporating Explain the different types of corporations and their key characteristics (including owner liability, tax treatment, documents needed, and management styles) Explore the right locations to incorporate a particular business, and how to raise capital for that corporation
Author : Gary Forster
Publisher :
ISBN 13 : 9780988218345
Total Pages : pages
Book Rating : 4.2/5 (183 download)
Download or read book The U.S. Estate and Gift Tax and the Non-Citizen (Second Edition) written by Gary Forster and published by . This book was released on 2020-07 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Estate and Gift Tax and the Non-Citizen explains how both resident and non-resident foreign nationals are impacted by the U.S. Estate and Gift Tax. The book explains the tax traps exposing non-citizens and highlights a myriad of tax saving strategies. Foreign professionals, investors and entrepreneurs (and their financial and legal advisors) will gain insight into such topics as the implications of foreign investment and immigration to the U.S.
Author : Amanda Han
Publisher : Biggerpockets Publishing, LLC
ISBN 13 : 9781947200227
Total Pages : pages
Book Rating : 4.2/5 (2 download)
Download or read book The Book on Advanced Tax Strategies written by Amanda Han and published by Biggerpockets Publishing, LLC. This book was released on 2020-01-16 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: When it comes to taxes, it's not just about how much money you make--but how much money you actually get to keep. Are you tired of working hard all year, just to lose the largest chunk of that money to the IRS? Believe it or not, the U.S. tax system is filled with loopholes designed specifically to benefit real estate investors just like you. In this comprehensive follow-up to The Book on Tax Strategies, bestselling authors and CPAs Amanda Han and Matthew MacFarland bring you more strategies to slash your taxes and turn your real estate investments into a tax-saving machine. Inside, you will learn: How to take advantage of the tax reform benefits in all of your real estate deals Tax-deferral and tax-free techniques to significantly increase your return on investments How to use your rental properties to legally wipe out your taxable income What you need to know to take advantage of the Opportunity Zone tax benefits Tax-free methods to take cash out of a 1031 Exchange How to supercharge your nest egg using self-directed investment strategies Common retirement investing tax traps and how to avoid them Taxes saved means more money for you, your family, and more money to invest. Learning to save on your taxes could be the easiest money you ever make!
Author : Jennifer Reuting
Publisher : John Wiley & Sons
ISBN 13 : 1119602181
Total Pages : 371 pages
Book Rating : 4.1/5 (196 download)
Download or read book Limited Liability Companies For Dummies written by Jennifer Reuting and published by John Wiley & Sons. This book was released on 2019-07-30 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Become a savvy entrepreneur with your own LLC Limited Liability Companies For Dummies, 3rd Edition offers a clear, concise guide that explains the pros and cons of LLCs, and shares insider tips on everything from choosing your members and your company name to creating and filing your Articles of Organization and managing day-to-day operations. You'll find the most current, real-world advice on customizing an LLC for your specific business needs, creating a great operating agreement, keeping accurate records, and new information on federal regulations and fees that are applicable to LLCs, as well as a link to online tools, forms, and documents Most of the previous drawbacks to forming an LLC have all but disappeared with the IRS having loosened restrictions and individual states following suit. Because LLCs are now more flexible, they remain an attractive option for those launching a new business or reorganizing an existing business. This book shows how to form and tap into the power of an LLC: Keep up on the latest information on federal taxes, regulations, and fees Discover the advances in technology, including online tools that streamline the processes Get up-to-the minute documents and forms on new filing requirements Learn how to set-up a real estate LLC or an LLC among family members This hands-on guide addresses everything you need to know about LLCs, and will help you organize, launch, and run your business as a limited liability company just like the experts do! P.S. If you think this book seems familiar, youre probably right. The Dummies team updated the cover and design to give the book a fresh feel, but the content is the same as the previous release of Limited Liability Companies For Dummies (9781118852989). The book you see here shouldnt be considered a new or updated product. But if youre in the mood to learn something new, check out some of our other books. Were always writing about new topics!
Author : Jennifer Reuting
Publisher : John Wiley & Sons
ISBN 13 : 0470262230
Total Pages : 388 pages
Book Rating : 4.4/5 (72 download)
Download or read book Limited Liability Companies For Dummies written by Jennifer Reuting and published by John Wiley & Sons. This book was released on 2008-01-07 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is a limited liability company? How is an LLC different from a corporation? Should you form an LLC for your business? Limited Liability Companies For Dummies, answers all of your questions about LLCs and demystifies the formation and management of these increasingly popular business entities. This clear, concise guide explains the pros and cons of LLCs and shares insider insights on everything from choosing your members and your company name to creating and filing your Articles of Organization, to the day-to-day operation of your LLC. You'll also find valuable tips on creating your Operating Agreement, saving on taxes, and avoiding bankruptcy and fraud. You'll discover all the information you need to: Decide if an LLC is right for you Get the help you need to from your LLC Form your LLC in or out of your own state Lower LLC costs and fees Convert an existing company to an LLC Comply with state and local licensing issues Use your LLC to protect your assets File annual reports and research franchising fees Issue membership shares Dissolve or extend an LLC Control LLC assets and debt Keep your LLC intact Packed with winning strategies for streamlining your business, protecting your assets, and passing your estate on to your heirs, Limited Liability Companies For Dummies gives you the power and the knowledge to take full advantage all the benefits your LLC has to offer.
