by Eric Landro | Dec 30, 2022 | Uncategorized
Over your lifetime, you may have accumulated a wide variety of tangible assets, including automobiles, works of art and property, that you’ve accounted for in your estate plan. But intangible assets can easily be overlooked. Consider intellectual property (IP), such...
by Eric Landro | Dec 29, 2022 | Uncategorized
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial planning: the Setting Every Community Up for Retirement Enhancement...
by Eric Landro | Dec 29, 2022 | Uncategorized
Businesses of all stripes are about to embark upon a new calendar year. Whether you’ve done a lot of strategic planning or just a little, a good way to double-check your objectives and expectations is to revisit your business plan. Remember your business plan? If you...
by Eric Landro | Dec 28, 2022 | Uncategorized
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your...
by Eric Landro | Dec 27, 2022 | Uncategorized
If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last in, first out (LIFO) inventory method. That’s because of the LIFO recapture income that will be triggered by converting...
by Eric Landro | Dec 23, 2022 | Uncategorized
As an employer, you’re no doubt well aware of your responsibility to withhold employment taxes — such as Social Security, Medicare and income taxes — from employees’ compensation. And, of course, you need to report that compensation and the tax dollars withheld to the...
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