Growing your business with a new partner: Here are some tax considerations
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and...
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ConnollySteele
Jun 183 min read
When do valuable gifts to charity require an appraisal?
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS...
ConnollySteele
Jun 183 min read
The tax advantages of including debt in a C corporation capital structure
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more...
ConnollySteele
Jun 183 min read
A three-step strategy to save tax when selling appreciated vacant land
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of...
ConnollySteele
Jun 183 min read
Tax tips when buying the assets of a business
After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a...
ConnollySteele
Jun 182 min read
Should you convert your business from a C to an S corporation?
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are...
ConnollySteele
Jun 183 min read
You may be entitled to tax breaks if caring for an elderly relative
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life...
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