and local tax related matters. For federal tax purposes personal liability can arise for the LLC's tax liabilities including the failure to remit the entity's payroll taxes. Section 6671(b) imposes liability for an entity's employment taxes on the person responsible for depositing such taxes. ...
An LLC is formed and owned by one or more business owners called members while a corporation is formed and owned by shareholders or stockholders. LLC owners invest to join the business and therefore have an ownership interest in the assets of the business while corporate shareholders have shares ...
Let’smapquestyour business idea. It’s not a GPS, but it will get you closer. We’ll go over a series of questions that will help determine if that idea you’ve got is not only fully fleshed out but maybe begin exploring if it’s finally worth starting. I’m full of ideas, let...
How will an additional year of tax-deferred growth in your retirement savings impact your overall tax situation once you start taking distributions? How will it affect the tax situation of any beneficiaries who might inherit your IRA? Do you have money to pay additional taxes owed if you decide...
As people age, their spending patterns change, according to an analysis of Bureau of Labor Department data.2On average, US households under age 55 spend almost $58,000 a year on a wide variety of expenses. Starting at age 55, spending tends to increase slightly, as some younger retirees ...
The MFA Network Miami 2024 is going on right now and is the largest on record with over 900 attendees, the MFA shared on LinkedIn. I am starting to work on setting up video interviews for FIA’s Boca Raton, FL International Futures Conference. If you or your firm are interested in ...
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If you are gonna put it into a trust or an LLC or something like that, they’re probably gonna have a problem with that. So you’re much better off waiting and doing it afterwards.[00:32:20] After the, the transfer has occurred ...
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Estate planning refers to the management of how assets will be transferred to beneficiaries when an individual passes away. Estate taxes may be levied on the value of one's estate at death. Understanding Estates The wordestateis colloquially used to refer to all of theland and improvementson a...