Owners of family businesses face unique challenges that nonfamily-business owners don’t have to worry about. These often arise from the dynamics of family relationships and the need to transfer these into the business environment. Family relations can sometimes get messy.…
By Cody Daniels, M&S Senior Tax Associate Did you know whether an individual has converted his or her personal property to one held for the production of income is a question of facts and circumstances? In the case of a…
Does your company operate in multiple states? If so, there’s a good chance that you owe some state and local taxes (SALT) outside your home state. But many small businesses are unaware of their SALT liabilities. While it’s sometimes difficult…
The 3.8% Tax Can Take A Bite Out Of Some Home Sale Profits Summer generally is an optimal time to sell your home. If you’re putting up a “For sale” sign on your lawn this year, make sure you understand…
Responsible financial planning should include asking some “what if” questions. For example, what would happen if you or someone in your family were involved in an accident for which you were held legally liable? A $1 million or higher legal…
