In a previous article a tax attorney at The McGuire Law Firm drafted an article regarding inside and outside basis in a partnership to later further a discussion on IRC Section 754.  The article below will continue to discuss inside and outside basis and the problems or issues that can occur as we move forward...Read More

In a previous article we discussed the characteristics (issues to consider) of a business in general.  The article below has been drafted by a Denver business attorney at The McGuire Law Firm as an overview to the characteristics of a corporation that were mentioned in a previous article. Corporate Formation: a corporation can only be...Read More

Recently an issue came about regarding IRC Section 754 and it’s application to partnership matters.  The article below has been drafted by a Denver tax attorney at The McGuire Law Firm to initially discuss inside and outside basis, which will help to understand IRC Section 754. When you hear the term “outside basis” in reference...Read More

As you may or may not know, a partnership is a pass through entity whereby items of income, gain, loss, deduction or credit are passed through to the individual partners and reported on their 1040 individual income tax returns.  The article below has been drafted by a Denver tax attorney at The McGuire Law firm...Read More

In previous articles, a Denver business attorney at The McGuire Law Firm has discussed certain types of mergers.  Recently, a client inquired as to who votes in statutory merger and such question or issue deserves some attention.  The article below has been prepared by a business attorney to provide general information regarding corporate voting issues...Read More

What is Section 1231 property?  What is Section 1231 gains or losses?  Recently I was asked these questions as I mentioned 1231 property to a client who was preparing to dispose of certain assets.  A tax attorney at The McGuire Law Firm has prepared the article below to discuss 1231 property and hopefully the article...Read More

In previous articles, the collapsible partnership rule has been discussed.  The article below has been prepared by a tax attorney to further our discussion of this rule and provide an example of the rule when partner’s allocation of profits and losses are different.  Many partnership agreements call for special allocations whereby one partner (or multiple...Read More

To become an S Corporation (or to be taxed as an S Corporation) an election is made with the Internal Revenue Service.  In addition to such election, an S Corporation must meet certain requirements related to: it’s shareholders, types of shares and numbers of shares.  The video below has been prepared by a Denver business...Read More

Form 1120S is the corporate income tax return form for S Corporations, whereby a corporation will state items of income, expenses and thus net income.  Further, a shareholder’s K1 will be attached to the 1120S.   Contact The McGuire Law Firm to schedule a free consultation with a Denver Tax Attorney!Read More

Many individuals have rental properties and will ask questions regarding the tax implications of such rental income.  In the video below a Denver tax lawyer  discusses general issues regarding rental income, including Schedule E, which is generally where rental income would be claimed.   You can contact The McGuire Law Firm to speak with a...Read More