On November 18, 2020, the U.S. Treasury Department and IRS released further guidelines on the tax treatment of expenses paid with funds from PPP loans. After IRS Notice 2020-32 (released in April 2020) provided that no...more
The upcoming federal elections are a reminder that estate plans should be reviewed frequently to make sure the plan carries out your wishes in a tax-efficient manner. You may want to revise your plan depending upon the...more
9/16/2020
/ Estate Planning ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Inheritance Tax ,
IRS ,
Presidential Elections ,
SLAT ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Rates
The new partnership audit rules went into effect earlier this year. The new rules permit the IRS to assess and collect tax directly from a partnership or an LLC taxed as a partnership (both of these entities are, for...more
When a business is sold, both the buyer and the seller endeavor to walk away with as much cash on hand as possible.
The seller hopes to reap the rewards of years of hard work; the buyer hopes to secure enough cash to...more