Q: My wife and I run a business together, how must we file our taxes? A: If only one spouse owns the business and the other works as an employee, then you may file as a sole proprietorship under Schedule…
Selling a business is something that most business owners will only attempt once in their career. With an estimated 70% – 90% of their total net worth tied up in their business, they can’t afford to make a costly mistake,…
Introduction Lately, the stock markets have been battered by news of recession, low earnings, unemployment numbers, negative leading indicators, and other bad economic news. This has lead to substantial capital losses for most investors across the investment spectrum. Those holding…
The Tax Court held that the value of a decedent’s interest in a closely-held corporation was properly calculated by using discounts to reflect lack of control, marketability, and built in capital gains. The decedent owned a very small minority interest…
Q: What is new concerning the tax laws in 2009? A: While a blanket statement cannot be made, there are some notable changes for business owners and individuals: 1) The gift exemption amount raises from $12,000 per year, per person…
Selling a business is something that most business owners will only attempt once in their career. With an estimated 70% – 90% of their total net worth tied up in their business, they can’t afford to make a costly mistake,…
Introduction The beginning of the year is the best time to develop a strategy for your business. Too often, business people wait until the last week of the year to do their planning. While there are some actions that can…
The Tax Court has held that business startup expenses were deductible under the Internal Revenue Code, even though such expenses were incurred before the operation became an active trade or business. In this case, the taxpayer began operating a horse…
Q: I am considering making a major capital investment this year. The liberal amounts allowed under Section 179 and Bonus Depreciation have expired as of December 31, 2008. What are or will be the new Bonus Depreciation and Section 179…
After eight rewarding years of working together with Jay Bradway and The Bradway Group, Jay has accepted an excellent opportunity with another full service, real estate brokerage office in Palm Beach, and I have decided to start my own company…
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