by Mark D. Reader, CPA | Oct 28, 2022 | Articles
By: Paul N. Iannone, CPA, J.D., and Danny A. Pannese, CPA/ABV/CFF Since 2004, the IRS has administratively made S elections for limited liability companies (LLCs) very easy. An LLC that is otherwise eligible to be an S corporation that is classified as a partnership...
by Mark D. Reader, CPA | Oct 28, 2022 | Articles
Over the many years that I have been in practice, I have learned that there are a few items a client should be more attentive to in order to create a much more efficient and effective relationship. All clients should take the time to review their tax returns. In fact,...
by Mark D. Reader, CPA | Oct 28, 2022 | Articles
The following list of requirements will give you an idea of what is involved in closing a business and the kinds of information you might need to provide your professional advisor. Of course, the business must file a final income tax returns and some other related...
by Mark D. Reader, CPA | Oct 28, 2022 | Articles
For those of you organized as a corporation and contemplating a sale of the business, you have two options: a stock sale or an asset sale. The main reason that one would choose one over the other are tax considerations. Normally, buyers want to buy assets and sellers...
by Mark D. Reader, CPA | Oct 28, 2022 | Articles
The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest to individuals and small businesses. The Act also ex-tends and modifies some preexisting credits. The Act increases the credit for specified...
by Mark D. Reader, CPA | Oct 28, 2022 | Articles
When it comes to estimated tax payments, there are problems you will want to avoid. In fact, there are three potential penalties that can rear their ugly heads with the filing of your tax returns and failing to adhere to the rules associated with estimates, payments...
