A 1031 exchange, otherwise known as a like-kind exchange is done when a property that
Florida is a major real estate state with investments in properties increasing every year. However,
Limited liability companies (LLCs) have become popular as a legal entity to help investors and
If you are a creditor who has provided loans that have been defaulted on, filing
Many Florida companies benefit from using deferred compensation plans for a variety of reasons. Some startup companies lack the current cashflow to hire key employees; however, the company might be able to attract the right candidate by tying a portion of the employee’s compensation to future corporate earnings.
On Monday December 14th, 2020 the electors for each state met to confirm President-Elect Biden’s election as the 46th President of the United States. What does that mean for you and your taxes? Well, that all depends on the Georgia senate runoff election in January.
What Forms Do Foreign Individuals and Entities Need to Complete When Investing in The United States?
Miami is home to many foreign individuals and foreign companies that do business in Florida
Certain gifts made during the course of the year can be deducted from your business’s taxable income. Of course, the IRS provides several limitations and exceptions, such as a $25 maximum per recipient and exclusion of gifts which are branded with the giver’s name or logo.
A change in control is a change in the ownership structure of a company. Such change of ownership typically involves another entity or individual acquiring more than 50% of the company’s shares. When such a change in corporate structure occurs, the company must file an “Information Return for Acquisition of Control or Substantial Change in Capital Structure” Form 8806 with the Internal Revenue Service.
The Agricultural Tax Exemption is a property tax exemption that landowners may receive, if they can show that their land is being put to agricultural use. Different states define “agricultural use” in different ways. For example, Florida requires agricultural use to be bona fide. Fl. Stat. § 193.461. “Bona fide agricultural purpose” is defined as a “good faith commercial agricultural use of the land.” Fla. Stat. § 193.461(1)(b) (2009). Some states require the agricultural use to be for commercial purposes, and for some profits to be gained from the land.
The EIDL program or Economic Injury Disaster Loan allows the SBA to provide loans of up to $2 million to small businesses that have suffered substantial economic injury. The EIDL reopened its loan program to small businesses on June 15, 2020 after closing to most small businesses in May of 2020.
Just as e-commerce has presented challenges for sourcing sales tax, e-commerce also presents issues for sourcing income taxes. This blog will discuss the income tax implications for online businesses.
E-commerce has created several tax-related issues for corporations conducting business across states without a physical footprint. This blog will discuss the sales tax implications for online businesses.
The Securities and Exchange Commission (“SEC”) is an independent government agency created to regulate corporate securities while maintaining fair market practices. The SEC is commanded by a five-member commission who act cooperatively to enforce the rules and regulations that make up the securities market. Their authority is derived from the Securities Act of 1933 and the Securities Exchange Act of 1934.
The U.S. Securities and Exchange Commission is a governmental agency that serves the purpose of protecting investors from fraud and maintaining fairness and efficiency of the U.S. market. One of the main goals of the SEC is to mandate disclosures about all kinds of investments to both small and big businesses.
The reason for such disclosures is to protect the company in the event things fall apart and the investors try to sue the company for securities fraud for example. Such disclosures will be used as the company’s defense. One of the best ways to provide such disclosures is through a document called a Private Placement Memorandum (aka PPM).
Oftentimes, a creditor or vendor wrongfully files something with your credit rating agency. All of a sudden, you find your credit lowered by hundreds of points, with collection agencies knocking at your door. Black marks on your credit can have detrimental consequences for future financial transactions, like opening a credit card.
What is a Federal Tax Lien? A federal tax lien is the government’s legal claim
Along with registering an organization in the United States, many, if not all countries require proper registration within their governmental agency as well. This not only allows foreign countries to have control over U.S organizations operating within their nation’s borders, it also helps keep track of activities and allows the enforcement of local laws.
Under Internal Revenue Code “IRC” Section 1446, a partnership of this sort may be made up of any kind of foreign corporation, international organization, non-resident individual or foreign estate or trust. Any partnership that falls under the definition of 1446 must pay the required withheld taxes mandated by the IRS.
Can a U.S Non-Profit Organization lose its Tax-Exempt Status by Sending Funds to Foreign Organizations?
There are several ways that funds from U.S. non-profits can be sent to foreign organizations. However, U.S non-profit organization may be exposing themselves to risks and possible dangers of losing their tax-exemption status.
If you have not filed your tax returns for years and now you owe lots of money to the IRS, there are ways to deal with this issue but the best advice is to contact a tax attorney so they can explain all of the different steps and hopefully lower some of the money you owe.
If your employer controls how long your lunch is, how many hours a day you have to come into the office, how many sick days or vacations you have, how the work is done, when the work is done, and where the work is done then you are being misclassified as an independent contractor.