business assets

Buy Business Assets Before Year End to Reduce Your 2018 Tax Liability

November 13th, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: business assets, buys business assets to reduce tax liability, CPA, section 179 expensing, tax, Tax planning, The Burns Firm, year-end planning|

The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase [...]

Watch Out for Unfavorable ‘Related Party’ Rules

August 9th, 2018|Categories: Accounting, Burns Firm, Business, Tax, Tax Deductions, Tax Planning, TCJA|Tags: 'related party' rules, business, business assets, C corp, Denis Burns, owner interest, Sell a business, Selling, The Burns Firm|

Beware of the tricky "related party" tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest).The Internal [...]