Insights
Business Sale: Who Owns Professional Goodwill?
When a professional corporation sells its assets or liquidates, one important tax issue is whether the corporation or the shareholder-employees own any appreciated professional goodwill (with a fair market value in excess of tax basis).
Investigate the Research Credit
Your company might decide to put extra cash into research and development to stay on the cutting edge. Good news: Besides maintaining a competitive advantage, your business might be able to claim the Research Tax Credit that was extended through December 31, 2011.
Scratching Up Seed Money
Finding just the right financing to start or expand your company is a complex process that involves uncovering sources of money, using the proper means and evaluating whether the timing is good. If the economy is slow, it's more difficult to raise cash -- no matter how clever a business plan you have.
Get Your Piece of the Depreciation Pie Now
If you own commercial property, you're probably depreciating it over 39 years. That means that every year, you deduct 1/39th of the property's value from your taxes. Depending on the value of your property, you could generate a million dollars or more in depreciation deductions over the 39 years.
Plan Now to Escape the Corporate Earnings Penalty
A corporation that accumulates more than $250,000 in retained earnings ($150,000 for personal service corporations) could be slapped with a penalty tax by the IRS. Fortunately, you can escape the "accumulated earnings tax" with some shrewd moves.
What Lenders Require in Today's Economy
In today's tough economy, financial institutions are cautious of new lending requests. In addition to scrutiny regarding new relationships, bankers are turning their focus to existing customers. With little or no notice, lenders are closing business credit lines or reducing the amount of available credit.
