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Do You Know About IRC 368 Tax-Free Reorganization

Do You Know About IRC 368 Tax-Free Reorganization?

IRC Tax-Free Reorganization Reorganization is a term used when a company changes its structure. A reorganization differs from a merger or acquisition because it does not involve merging two companies. Instead, it consists in changing the legal form of a corporation. Reorganization is also different from liquidating a company because it doesn’t involve selling all […]

IRC Section §351 and Property Contributions

IRC Section §351 and Property Contributions

Overview of IRC Section §351 and Contributing Property Are you considering establishing a corporation? Perhaps you have considered contributing property as consideration for your interest while another member would like to contribute cash. You may even find yourself in a situation where a third person would like to donate his services in exchange for an […]

Tax deductions for small business owners.

Tax Deductions For Small Business Owners

Small Businesses and Tax Deductions As small business owners, we know that you do your best to keep costs to a minimum. One way to save money that many business owners overlook is tax deductions. Tax deductions that sole proprietors, partnerships, and LLCs may be able to take add up to a significant amount of […]

Life Events That Cause Tax Changes

Life Events That Can Cause Tax Changes

Throughout the stages of life, many significant events can cause major financial tax changes. In addition to affecting your bank accounts, some life events can significantly impact your taxes. Knowing this impact before, during, and after the event can help minimize confusion around filing your taxes in Denver.  Marriage Several factors may impact your tax […]

Tax Implications When Gifting Property

What are the Gift Tax Implications When Gifting Property?

Gifting Property Tax Implications When gifting property, gift and estate taxes are two different types of taxes applied to wealth transfers. A gift is when someone gives away property without getting anything back in return. An example of a gift is giving your car to your friend. Estate taxes apply to the transfer of assets […]

Learn About Individual Taxation in Colorado

Good News About Individual Taxation In Colorado

Individual Taxation Income taxes are a significant source of revenue for states. Most states impose an income tax on residents and non-residents alike. Individual taxation is usually progressive, meaning that the amount of tax owed increases with each additional dollar earned. States also levy other taxes, including sales, property, excise, and corporate taxes. The Internal […]

Issues That Arise When Forming A Trust and Estate Planning

Estate Planning Issues That Arise When Forming A Trust

Do I Need Estate Planning? Estate planning is about protecting yourself, your family, and your loved ones against potential problems that could arise after you die. Estate planning includes creating a will, establishing trusts, making medical directives, and choosing guardianship over minors. Having a valid will is essential if you don’t do anything else. You […]