Articles From Lumsden McCormick
Strategic Tax Considerations for Business Acquisitions
Posted by Cory Van Deusen V on May 20, 2024
When acquiring a business, it’s crucial to consider the tax implications of the transaction’s structure. Proper planning can optimize tax outcomes post-acquisition.
How to Use Debt to Lower Taxes for a C Corporation
Posted by Brian Kern on May 13, 2024
For closely held C corporation shareholders, incorporating third-party or owner debt into your capital can be tax-efficient due to lower income tax rates and avoiding double taxation on dividends. Consult with us for tailored advice.
Partnerships: Key Tax Considerations When Adding a New Partner
Posted by Bradley Bach on May 09, 2024
You and your current partners are getting ready to welcome a new member. Who will pay cash to get a one-third share in the partnership? Follow the example situation that explains the rules.
Ensuring Compliance in Conservation Easements: IRS Oversight and Implications
Posted by Cheryl A. Jankowski on May 09, 2024
Conservation easements are a useful way for taxpayers to lower their income and estate taxes while keeping ownership and use of their properties. They have been widely used in estate planning for a long time.
Analyzing the Prospective Risks and Returns of Alternative Investments
Posted by Cathleen Karpik on May 08, 2024
Many nonprofit organizations are drawn to alternative investments because they can offer better long-term returns than traditional securities. However, these investments also have different factors and risks to consider.
IRS Issues Final Regulations on Advanced Manufacturing Investment Credit
Posted by Kristin Re’ on May 07, 2024
The IRS has issued final rules for the Advanced Manufacturing Investment Credit, based on the 2022 law that encourages local semiconductor creation with big tax benefits. The final rules have some changes about choosing to use the credit as a federal tax payment.
Optimizing Your Children’s Inheritance: The Case for a Unified Trust
Posted by Isabella Newman on May 02, 2024
Establishing trusts for your children is an important strategy for ensuring their financial security.
Addressing Volunteer Liability and Tax Concerns in Nonprofit Organizations
Posted by Sarah Hopkins on May 01, 2024
It's essential to pay attention to the legal and tax issues that volunteers might encounter.
Federal Income Tax of an Appreciated Vacation Home
Posted by John Anderson on April 30, 2024
What are the federal income tax implications associated with selling an appreciated vacation home?
Deducting Partnership Business Expenses
Posted by Kerry Roets on April 29, 2024
Partnership owners may incur costs associated with client entertainment, transportation for meetings, professional development materials, and home office expenses. How are these expenses deducted?