Section 351 of the Internal Revenue Code facilitates the growth of corporations. While those who own assets that come with built-in gain might wish to transfer their property into a new corporation in exchange for stock in the company, this provision permits them to...
If you owe taxes, the IRS isn’t the only tax authority you will face. Even if you reduced your tax obligation or secure an offer in compromise, you have not reached the finish line. You’ll still be up against the state tax authorities — which are a separate entity...
One of the most important considerations when choosing a business structure are the tax implications that come with the choice of structure. While no one entity type is efficient for all purposes, various factors can be assessed to determine the best plan for your...
As the saying goes, "if you can make it there, you can make it anywhere." New York is a notoriously expensive city — both to live in and to conduct business. Not only do corporate owners pay exuberant commercial rents, but they are also subjected to significant...
Want to know about the ins and outs of business taxes? Listen to Joshua D. Brinen answer some of the most common questions business owners have regarding taxes: What kind of taxes do businesses pay? Depending on the structure of the business, a business...
Owing taxes can be stressful and overwhelming. If you are seriously delinquent in paying your taxes, you may be concerned that the IRS can place a lien against your property, levy your bank account, or seize your property to satisfy the debt. However, be aware that...
