Partnership Basis  A Denver business attorney at The McGuire Law Firm can assist business owners in understanding their ownership interest in their business and how such value can impact their tax consequences upon sale or transfer.  The article below has been drafted by a business attorney to discuss a partner’s basis in their partnership interest....Read More

Liquidating Distributions & Shareholder Gain or Loss  At The McGuire Law Firm, a Denver business attorney and tax attorney can assist you with all types of business transactions from formation to sale.  The article has been drafted by a tax attorney to discuss liquidating distributions from a corporation and tax consequences to the individual shareholders....Read More

Receiving a Partnership Interest in Exchange for Services  Many partners receive a partnership interest for services they have performed on behalf of the partnership.  A Denver tax attorney and business attorney at The McGuire Law Firm assists partners and the partnership in understanding the tax implication upon receipt of the interest and other issues to...Read More

Corporate Income Tax and Undistributed Corporate Income  Corporate income tax and undistributed corporate income are issues for business owners and their tax attorney and/or business attorney. Corporations have been taxed by the United States government since 1909 under the Payne-Aldrich Tariff Act.  Internal Revenue Code Section 77010(a)(3) includes associations and joint stock companies within the...Read More

Foreign Account Tax Compliance Act (FATCA)  As a Denver tax attorney, John McGuire works with clients to ensure their compliance with the Foreign Account Tax Compliance Act.  The article below outlines compliance issues and considerations. The Foreign Account Tax Compliance Act and related provisions became law in 2010.  The act targets United States taxpayer who...Read More

Compensation Planning: Types of Qualified Retirement Plans  Compensation planning can be very important for business owners both individually and as a means by which to maintain the services of employees.  As a Denver business attorney and tax attorney, John McGuire works with businesses to create and implement compensation plans.  A Denver tax attorney can also...Read More

The Varying Interest Rule and I.R.C. § 706              If you are considering transferring a partnership interest or admitting a new partner to a partnership, considerations need to be made regarding the allocation of each partner’s distributive share.  A Denver tax attorney and Denver business attorney can assist you and your partnership in understanding the...Read More

Stock v. Debt: Classification Issues Classification issues commonly exist regarding debt versus stock treatment.  John McGuire, as a Denver business attorney and tax attorney assists individual investors and businesses regarding this issues.  Hopefully, the article below provides useful information. Substance over form is used in determining whether an instrument received by an investor in exchange...Read More

Formation of the Partnership: Contribution of Property & Basis  At The McGuire Law Firm a Denver tax attorney and Denver business attorney can assist clients with the formation of their partnership and the tax consequences based upon the property contributed by the partners.  The article below has been drafted by a tax attorney may be...Read More

Simplified Employee Pension (SEP) Certain individual retirement accounts or individual retirement annuities may qualify as a simplified employee pension (SEP).  Under a SEP each employee’s contributed funds are placed in an individual retirement account (IRA) that the employee controls as an investment and the distributions.  Our tax attorneys in Denver have helped many individuals understand...Read More