Jul 13, 2017 | Small Business
It’s common for a business to own not only typical business assets, such as equipment, inventory, and furnishings, but also the building where the business operates — and possibly other real estate as well. There can, however, be negative consequences when a...
Jun 19, 2017 | Small Business
It’s common for closely held businesses to transfer money into and out of the company, often in the form of a loan. However, the IRS looks closely at such transactions. Are they truly loans, or actually compensation, distributions or contributions to equity? Loans to...
May 8, 2017 | Small Business
Many business owners use a calendar year as their company’s tax year. It’s intuitive and aligns with most owners’ personal returns, making it about as simple as anything involving taxes can be. But for some businesses, choosing a fiscal tax year can make more sense....
Apr 27, 2017 | Small Business
Private companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are...
Apr 10, 2017 | Small Business
Among the retirement plans that small businesses can offer to their workers are Employee Stock Ownership Plans (ESOPs). As the title indicates, an ESOP is a process for transferring ownership of the company to employees. How does that work as a retirement plan? In...
