Author: taxsecretsblog

When you’re in the midst of building or growing a business, the last thing on your mind is what happens if the owner suddenly dies. If the business was established as a partnership and the surviving partner has equity in the business, then a buy-sell

Here are five things that happened this past month that affect your small business. 1) The G20 backed historic corporate tax reform at the latest summit. Another step forward for proponents of a global corporate minimum tax: At the first face-to-face G20 meeting since the

We’ve all heard the term “the rich get richer.” According to a report released from ProPublica, it turns out that one of the ways that truism is perpetuated is through the strategic use of tax-sheltered Roth individual retirement accounts (IRAs). The good news is that the same

The Internal Revenue Service has released a midyear report to Congress that details a significant backlog of tax returns dating back to the end of tax filing season, and many of those returns have yet to be processed. While backlogs are not unusual, this year’s

Here are five things that happened this past month that affect your small business. 1) There’s a tight labor market nationwide these days, and it’s giving workers more leverage. The economy’s recovery is giving low-wage workers more leverage, as “ballooning job openings in fields requiring

Here are five things that happened this past month that affect your small business. 1) The US Treasury proposed a global minimum corporate tax rate of 15%.   Continuing its push for a global minimum tax for businesses, the Treasury Department said on May 20th

If you’re a small business owner or an aspiring entrepreneur, mergers and acquisitions probably sound like something that happens at an entirely different operational level from the one where you live and work. But if you’ve put the time into creating a business plan and

When President Joseph R. Biden announced his $1.8 trillion American Families Plan to a joint session of Congress, most of the attention went to his jobs plan, the new benefits he was proposing for children and families, and the proposed increase of the top income

Here are five things that happened this past month that affect your small business. 1) President Biden announced tax credits for COVID-19 vaccination paid time off. The President announced on April 21st “tax credits for certain businesses that pay employees who take time off to

Originally, selling stocks identified as having Qualified Small Business status was viewed as offering marginal benefit. But the last several years have seen incremental changes to how gains from the sales of these stocks have been treated. As of the most recent shift, which created