World Class Mergers & Acquisitions | For Companies $5 Million to $250 Million in Revenue
Most business owners are vaguely aware that Employee Stock Ownership Plans (ESOP’s) can provide substantial tax advantages when they approach retirement, but they don’t have a clear idea of how ESOP’s work, nor do they realize how ESOP companies typically…
Trustees Liable for Taxes A District Court ruled that trustees of an estate were liable for unpaid estate taxes. In the fact pattern, the estate came about when the decedent died in 1992, leaving behind large insurance policies and a…
Introduction Last month, we examined the selection of which entity to choose from based on the perspective of the proprietor through the lens of the Limited Liability Company. To recap last month’s conclusion: “Limited Liability Companies are becoming more popular. …
Q: Now that the Supreme Court has upheld The Patient Protection and Affordable Care Act, how will this affect my business in the years to come? A: First off, the PPACA is a law that is workable for business owners…
Employee Stock Ownership Plans (ESOP) have been around for 35 years, and many well known, national companies have them, but many misconceptions still exist, such as: (1) Employees will directly own the company’s stock [FALSE], or (2) Employees will directly…
Introduction For the closely-held business, choosing a business entity under which to operate used to be easy. The proprietor usually operated as a sole proprietorship, a partnership, or as an S Corporation. There were clear advantages and disadvantages to each…
IRA Beneficiary In a private letter ruling, the IRS has restated that the beneficiary of an individual retirement account (IRA) must be identifiable “without qualification” in order to avoid the application of the five year distribution rule for a required…
Q: I just opened a business and formed it as a Limited Liability Company under my state’s laws. For federal tax purposes, how do I classify my LLC? A: An LLC may be classified for federal tax purposes as a…
Effective June 1st, Legacy Advisors has relocated our Florida offices. Our market area hasn’t changed: We still serve all of W Central Florida, and occasionally serve clients in other parts of Florida, and even out-of-state clients, but our office address…
Recap of Last Month Last month, was Part I of Affording the PPACA in 2014 and Beyond. Within was discussed the individual mandate, the governments role, and the beginning of the employer’s role in all of this. This month, we…