Partnerships: Tax Considerations When Adding a New Partner
When inviting a new partner to participate in your business, it’s important to understand the federal income tax issues that may arise. Here’s an overview of the tax rules that may apply if you bring a new owner into a partnership or limited liability company that’s treated as a partnership for tax purposes. There are both pros and cons to consider.
Repossessing Investment Property Sold in a Seller-Financed Deal
If you sell investment real estate in a seller-financed installment transaction and later repossess the property, what are the federal tax implications? This article will answer that question. You may wind up with a taxable gain but there may be Internal Revenue Code rules that make the situation favorable for you.
Interest rates rise and fall periodically, but the tax rules for deducting interest expenses remain the same — unless Congress changes them. Whether or not you can deduct interest expenses, and how much, depends on the type of expense. There are five “buckets” that interest expenses may be deposited into, based on the use of the proceeds. Here’s a brief overview of the rules.
Employers face stiff competition to hire the best skilled workers right now. In the heat of the game, staff members might go “off script” when interviewing candidates. Doing so could result in legal penalties for your company. This article offers commonsense tips for asking safe, informative questions. Sidebars address typical time frames for discrimination charges and what questions NOT to ask.