What is FIRPTA Withholding?

Table of Contents1 What is FIRPTA?2 What is the rate of withholding?3 Are there exceptions to FIRPTA Withholding requirements?4 What are the requirements for the Substantial Presence Test?4.1 Example: FIRPTA, which stands for the Foreign Invest Real Property Tax Act, authorizes the United States government to tax foreign persons on the disposition of real property. […]

Do You Know About IRC 368 Tax-Free Reorganization?

•JMTaxLaw

•Uncategorized

•Denver Business Attorney, Denver Tax Attorney

•no comments

Table of Contents0.1 IRC Tax-Free Reorganization1 What Are The Types Of Reorganization?1.1 Acquisitive Reorganization1.2 Divisive Reorganization1.3 Restructuring Reorganization1.4 Bankruptcy Reorganizations2 How Does An A Reorganization Work?2.1 What Are The Requirements Of An A Reorganization?2.2 Example3 Still Have Questions? Call Us IRC Tax-Free Reorganization Reorganization is a term used when a company changes its structure. A […]

Understanding the differences in a stock sale and asset sale.

Stock Sale and Asset Sale Positives and Negatives

•JMTaxLaw

•Blog, Colorado Business Law, Denver Business Attorneys

•Denver Business Attorney, Denver Tax Attorney

•no comments

Table of Contents1 Two Options: Stock Sale and Asset Sale1.1 Stock sales1.2 Asset Sale1.3 Asset Purchase1.4 Asset Purchase Example1.5 Limitations to Asset Purchases Two Options: Stock Sale and Asset Sale When buying a company, you have two options: buy all its shares or just the company’s assets. If you’re looking to sell your company, you […]

What You Should Know About Dissolving Your LLC

What You Should Know About Dissolving An LLC

•JMTaxLaw

•Blog, Colorado Business Law, Denver Business Attorneys, Denver Small Business Attorney

•Denver Business Attorney

•no comments

Table of Contents1 How to Dissolve an LLC2 Why Should You Dissolve an LLC?2.1 Vote to Dissolve the LLC3 File Your Final Tax Return3.1 File the Proper Dissolution Forms3.2 Settle Outstanding Debts3.3 Distributing Assets4 Take Care of Your Employees5 Conduct Other Wind Down Processes6 Further Steps How to Dissolve an LLC When you start an […]

IRC Section 338 Election

•JMTaxLaw

•Colorado Business Law

•Denver Business Attorney, IRC 338 Election

•no comments

Section 338 Election Benefits Section 338 Election of the Internal Revenue Code provides a way to treat stock purchases as asset acquisitions for tax purposes only. In other words, under Internal Revenue Code §338(h)(10), the selling corporation will bear the tax associated with the transaction, but there will only be one level. This single layer […]

IRC Section §351 and Property Contributions

•JMTaxLaw

•Blog, Colorado Business Law, Denver Tax Attorneys, IRS Matters & Disputes

•Contributing Property to a Corporation, Denver Business Attorney., Denver Tax Attorney

•no comments

Table of Contents1 Overview of IRC Section §351 and Contributing Property1.1 Features of IRC Section §351 1.2 Requirements in IRC Section §351 1.3 Requirements in IRC Section §368(c)1.4 Non-Recognition and IRC Section §3511.5 Liabilities and IRC Section §3511.6 In Summary Overview of IRC Section §351 and Contributing Property Are you considering establishing a corporation? Perhaps you have […]

Tax Deductions For Small Business Owners

•denverpixel303

•Blog, Colorado Business Law, Colorado Springs Business Attorney

•Denver Business Attorney, Denver tax professional, Tax Deductions

•no comments

Table of Contents1 Small Businesses and Tax Deductions2 What’s A Tax Deduction?2.1 Business Meal Tax Deductions2.2 Business Insurance Tax Deductions2.3 Home Office Tax Deductions2.4 Office Expenses Tax Deductions2.5 Phone and Internet Tax Deductions2.6 Business Interest and Bank Fees Deduction2.7 Services From Outside Professionals Tax Deductions2.8 Salaries and Wages Tax Deduction2.9 Charitable Contributions Deduction2.10 Energy Efficiency […]

Life Events That Can Cause Tax Changes

•denverpixel303

•Blog, Denver Tax Attorneys, McGuire Law Firm

•tax changes, Tax Law

•no comments

Table of Contents1 Marriage2 Education3 Having a Child4 A Job Promotion or Change5 Purchasing or Selling a Home6 Becoming a Widow or Widower7 Gaining an inheritance 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. […]

What are the Gift Tax Implications When Gifting Property?

•JMTaxLaw

•Denver Tax Attorneys, Colorado Tax Law

•Denver Business Attorney, Denver Estate Planning Attorney, Denver Tax Attorney

•no comments

Table of Contents1 Gifting Property Tax Implications1.1 Gift Tax vs. Estate Tax?1.2 Gift Tax Policy2 Estate Taxes2.1 Real Estate Gift Tax2.2 The Capital Gains Tax Over The Long Term3 Stay Informed About Gifting Gifting Property Tax Implications When gifting property, gift and estate taxes are two different types of taxes applied to wealth transfers. A […]

Learn About Individual Taxation in Colorado

Good News About Individual Taxation In Colorado

•denverpixel303

•McGuire Law Firm, Blog, Denver Tax Attorneys

•Denver Tax Attorney, Individual Taxation

•no comments

Table of Contents1 Individual Taxation1.1 Filing Taxes2 Tax Liability2.1 Income Tax Credits3 4 Tax Distributions5 Federal Income Taxes5.1 A tax attorney at The McGuire Law Firm can analyze your situation and provide guidance and counsel regarding your specific situation and circumstances. Individual Taxation Income taxes are a significant source of revenue for states. Most states […]