IRC Section §351 and Property Contributions

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

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

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

•John McGuire

•Blog, Colorado Business Law, Colorado Springs Business Attorney

•Denver Business Attorney, Denver tax professional, Tax Deductions

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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

•John McGuire

•Blog, Denver Tax Attorneys, McGuire Law Firm

•tax changes, Tax Law

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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

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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

•John McGuire

•McGuire Law Firm, Blog, Denver Tax Attorneys

•Denver Tax Attorney, Individual Taxation

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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 […]

Issues That Arise When Forming A Trust and Estate Planning

Estate Planning Issues That Arise When Forming A Trust

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•Colorado Estate Planning

•Denver Estate Planning Attorney, Denver Tax Attorney

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Table of Contents1 Do I Need Estate Planning?2 Is My Estate Plan Good Enough?3 I Have A Living Trust, Do I Need A Will?4 What Is Probate?5 With A Small Estate, Should I Still Consider Probate?6 Types of Trusts7 Charitable Remainder Trusts8 How the McGuire Law Firm Can Help Do I Need Estate Planning? Estate […]

What You Should Know About Qualified Charitable Distributions

Qualified Charitable Distributions, Can They Save Me Money?

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•Blog, Colorado Tax Law, Denver Tax Attorneys, McGuire Law Firm

•Charitable Contributions, COVID 19 Tax Implications, IRS Tax Law, Required Minimum Distributions

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Table of Contents1 What are Qualified Charitable Distributions?1.1 Eligibility and Qualified Charitable Distributions1.2 Tax Benefits of the CARES Act2 Minimum Distributions Suspended2.1 New Tax Incentives3 Key Takeaways3.0.1 1. You can donate from an IRA without paying taxes. Contributions from an IRA are deductible from your federal taxes. This means that you don’t pay taxes on […]

When Identity Theft Impacts Your Taxes

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•Colorado Business Law, Denver Tax Attorneys

•Identity Theft Solutions

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Table of Contents1 What Is Identity Theft2 Can Identity Theft Affect Me?3 Reduce Your Exposure to Identity Theft4 Report Identity Theft Immediately 4.1 Need a Tax Attorney’s Assistance? What Is Identity Theft Identity theft happens when someone uses your personal information to commit fraudulent activity. This includes applying for credit cards, bank accounts, loans, or government […]

What You Need to Know About the CARES Act in Denver, CO

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•Denver Business Attorneys, Denver Tax Attorneys

•The Coronavirus Aid

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Table of Contents1 Introduction Of The CARES Act2 Who Is Eligible For The Coronavirus Disaster Program Loan?2.1 What Is The Maximum Loan Amount?2.2 How Can I Spend My Small Business Loan From The CARES Act?2.3 Will My Loan Be Forgiven Under Section 1105 Of The CARES Act?3 What Is Considered A Payroll Cost?4 How Do […]

Making Charitable Contributions? You Should Know About IRS Form 8283

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•McGuire Law Firm, Denver Business Attorneys, Denver Tax Attorneys, IRS Matters & Disputes

•Charitable Contributions, Denver Tax Attorney, Form 8283

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Table of Contents1 What Is Form 8283?2 The Two Parts of Form 82833 Charitable Contributions4 Donee Information5 Where to Find Form 82836 Form 8283 Requirements7 Takeaways What Is Form 8283? Form 8283 is a tax reporting form used to report donations to charities. If you donate property valued at $500 or more during the calendar […]