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Blog

IRS Audit Tip On Mileage Deduction

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If you take mileage as a deduction on your income tax return, the IRS audit tip below may help you.  Many individuals will claim mileage as a non-reimbursed employee expense on Form 2106, or if self-employed, on a Schedule C, or the deduction may even be stated on another business income tax return.  Most individuals […]

Minimum Gain Chargeback Provisions

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If you have reviewed partnership agreements or operating agreements for an LLC you have probably read provisions relating to Minimum Gain Chargeback.  That being said, the Minimum Gain Chargeback provisions may have put you to sleep, and may not even be practical based on the facts and circumstances of the partnership.  However, Minimum Gain Chargeback […]

Tax Matters Related to the Transfer of Property Through Divorce

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When a property is transferred because of a divorce, is the transfer of property taxable, and what tax issues should be considered? This is a common question when an individual is going through a divorce and begins to look at and consider the settlement agreement and terms the parties are discussing.  The article and information […]

IRS Offer in Compromise Resource Page

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Table of Contents1 What is an IRS Offer in Compromise?1.1 Offer In Compromise Pre Qualifier Tool1.2 IRS Offer in Compromise Form1.3 Where To Submit Your IRS Offer in Compromise1.4 What Decisions can the IRS make regarding my Offer?1.5 What Information is Public?1.6 Publication 594 The article below has been prepared to act as an IRS […]

Initial Considerations Regarding a Corporate Acquisition

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In any corporate acquisition, there are tax and non-tax issues, multiple business considerations, and the goals of the parties involved with the transaction.  The tax planning that is involved before, during, and after the acquisition process may include many options and alternatives to achieve the tax and non-tax wishes and goals of the parties.  Thus, […]

Employee Stock Options

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Successful businesses will have successful, driven, and strong employees.  Often businesses are faced with questions and issues regarding maintaining employees, hiring the right employees, and incentivizing employees.  Incentive compensation arrangements are often used by large and small businesses as a means by which to reward employees, as well as a benefit to individuals the business […]

Direct Stock Acquisition and Reverse Triangular Merger

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There are multiple options to implement the acquisition of a business.  The purchaser or acquirer could purchase the stock of the target corporation, or the assets of the target corporation.  If the stock of the target corporation is to be purchased there are multiple options and variations by which the stock can be acquired.  The […]