TAX CONSEQUENCES OF SELLING OR EXCHANGING PROPERTY WITH A RELATED PARTY
Article By: Jeff Skolnick, CPA, M.S. Taxation Disallowance of Capital Gain Treatment Generally, individuals enjoy certain tax benefits when selling…
WHAT HAPPENS IF I CHANGE MY C CORPORATION TO AN S CORPORATION?
Article by: Jeff Skolnick, CPA, M.S. Taxation Although there has been much said about the drop in the corporate income…
HOW YOUR BUSINESS ENTITY TYPE AFFECTS THE WAY YOU DEDUCT HEALTH INSURANCE
Article by: Jeff Skolnick, CPA There are various ways entity types available for businesses. Your business may be structured as…
REQUIRED MINIMUM DISTRIBUTIONS (WHAT ARE THEY AND HOW DO THEY AFFECT ME?)
Article By: Jeff Skolnick, CPA Required minimum distributions (RMDs) are the amount of money required to be withdrawn from your…
HOW SELLING YOUR HOME TO AN S CORP BEFORE CONVERTING IT TO RENTAL PROPERTY CAN SAVE BIG ON TAXES
Article by: Jeff Skolnick, CPA, M.S. Taxation Many homeowners decide at some point, if they are financially able to do…
DEDUCTING LONG-TERM CARE EXPENSES
Article By: Jeff Skolnick, CPA, M.S. Taxation According to a survey on the Genworth website, the cost of assisted living…
SAVE THOUSANDS OF DOLLARS THIS YEAR BY UTILIZING THE NEW TAX LAWS FOR YOUR BUSINESS!
Article By: Jeff Skolnick, CPA, M.S. Taxation I always liken taxpayers and tax laws to board games we played when…
There is no Penalty for Not Having Health Insurance in 2019. NOT SO FAST! Also, Understanding the Premium Tax Credit
Article by: Jeff Skolnick, CPA, M.S. Taxation The Tax Cuts and Jobs Act passed in December of 2017 eliminated the…
SAVE DOLLARS THROUGH THE USE OF OPPORTUNITY ZONES
Article by: Jeff Skolnick, CPA, M.S. Taxation According to the IRS website opportunity zones were created to “spur economic development…
Planning Cash Flow For Your Business
Article by: Jeff Skolnick, CPA, M.S. Taxation There are a number of factors that can lead to cash flow issues…