Tax Minimization

June 27, 2023

The best way to survive an IRS audit is to prepare

The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even […]
July 3, 2023

Advantages and disadvantages of claiming big first-year real estate depreciation deductions

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should […]
July 25, 2023

Inheriting stock or other assets? You’ll receive a favorable “stepped-up basis”

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. How do the rules […]
August 8, 2023

The advantages of using an LLC for your small business

If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or […]