Should I make a 754 Election when a Partner Dies
If you just inherited a share of a partnership, you should strongly consider having that partnership make a “754 election” for federal tax purposes. What is a 754 election? A […]
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Do I Need to Timely File a Federal Estate Tax Return
If you are the executor of a decedent’s estate, you might be required to file a federal estate tax return. This filing is made on Form 706, which can be […]
Read the full post Do I Need to File a Federal Gift Tax Return
Whether or not you need to file a federal gift tax return depends on the amount of the gift and other factors. The federal gift tax applies to gifts of […]
Read the full post Proven tax strategies converting a C-Corp to an S-Corp
Not operating as an S-Corp? You might be asking yourself why your closely held company is still being taxed as a C-Corporation when the opportunity exists to be taxed as […]
Read the full post Proven Techniques to Beat an IRS Tax Audit
Handling an IRS tax audit can be a challenging experience, but it is possible to navigate the process successfully.
Read the full post Do I need to file a federal estate tax return?
Whether or not you need to file a federal estate tax return depends largely on the estimated value of the estate and the laws in place at the time of […]
Read the full post Simple guide to partnership taxation in the United States
Partnership taxation is a complex area of the law. However, if you understand a few key characteristics of how partnerships are taxed, you can make better decisions upon entering and […]
Read the full post How to Beat an Estate Tax Audit
AN ESTATE TAX AUDIT by the IRS usually results from an estate tax return that either fails to comply with federal law or misstates information the IRS already has on […]
Read the full post Taxation of 401k withdrawals under the CARES Act
Essentially, the CARES Act eliminates the 10% early withdrawal penalty for certain distributions taken from retirement plans such as 401(k) and 403(b) plans, and IRAs.
Read the full post Are Wrongful Death Settlements Subject to Inheritance Tax in New Jersey
General Rule Not all amounts recovered in a wrongful death action are exempt from the New Jersey Inheritance Tax. Generally, wrongful death settlements recovered under N.J.S. 2A:31-1 are not subject […]
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