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...
The election of Donald Trump as President of the United States could result in major tax law changes in 2017. Proposed changes spelled out in Trump’s tax reform plan released earlier this year that would affect businesses include: Reducing the top corporate income tax...
The IRS may object to the compensation of a C corporation shareholder-employee. If it’s deemed too high — or not “reasonable” under the circumstances — the IRS could force you to make adjustments that increase taxes. This can be particularly troublesome for C...
Whenever cash or property passes between a closely held corporation and its shareholders, there are generally tax consequences. You can control these consequences by documenting your intentions for the transaction to be considered a corporate loan instead of a...
The recently-signed Protecting Americans from Tax Hikes Act (PATH Act) of 2015 reinstates some expired tax benefits retroactively and makes them permanent. On the list is the 100% tax exclusion of the gain from sales of qualified small business stock (QSBS). Example...
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