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Category Archives: LLCs & Business Planning Issues

Limited Liability Companies Combine the Best Parts of Partnerships and Corporations

A limited liability company (LLC) offers protection from personal liability for business debts, just like a corporation. Unlike a corporation, which must pay its own taxes, an LLC is a pass-through tax entity, so the profits and losses of the business pass through to its owners, who report them on their personal tax returns just […]

Deathbed Estate and Tax Planning

When Death Is Imminent, Some Quick Moves Can Make a Great Deal of Sense. Deathbed Income Tax Planning Capital losses should be recognized via sale, as they will be lost upon death. A conversion of a qualified plan or IRA to a Roth IRA should be considered to allow future tax-free accumulations for the beneficiaries. Post-death medical […]