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The Difference Between an LLC and a Subchapter S Corporation

Posted in Tax News on November 17, 2011

Startup businesses are often considering either a Limited Liability Company (“LLC”) or a Subchapter S Corporation.  Here are the differences:

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5 Reasons Donors Should Give Appreciated Property

Posted in Tax News on November 10, 2011

Donors should give appreciated property to their favorite charity. Appreciated property is property whose Fair Market Value exceeds the cost basis.  Cost basis is generally what was paid for an item.

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The Difference Between Short-Term and Long-Term Capital Gains

Posted in Tax News on November 2, 2011

The sale of a capital asset will result in a capital gain.  Depending on the holding period of this asset, the gain will either be short-term or long-term. Long-term gains have a lower, preferred income tax rate.  The holding period…

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How to Pay Estimated Income Taxes and Avoid IRS Penalties

Posted in Tax News on October 27, 2011

Taxpayers must pay their taxes “as they go.”  For many taxpayers, their income taxes are withheld from their paychecks.  For taxpayers that don’t have any withholding, they will need to make estimated tax payments.

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19 Taxes and Counting

Posted in Tax News on October 20, 2011

19 Kids and Counting is TLC’s TV show about the Duggar family.  I’m not sure what is scarier, the fact that they already have 19 kids or the rest of the title…”and Counting.”

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