Articles From Lumsden McCormick
Posted by Michē Needham on January 14, 2020
Residential real estate values have fully recovered in many areas, and rental rates are strong. To take advantage of this favorable situation, consider buying a new residence and converting your current home into a rental property that you can sell later for a higher price. This strategy can be a tax-savvy move, but it's not right for everyone.
Posted by Cory Van Deusen V on January 14, 2020
Under current tax law, the federal income tax rate for C corporations is a flat 21%. In this favorable — but uncertain — tax environment, it could be advantageous for shareholders of profitable C corporations to arrange to pay corporate dividends to themselves.
Posted by Bryan Staniszewski on January 13, 2020
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was mainly intended to help individuals save more for retirement. But the new law also contains provisions that help simplify the administration of retirement plans for employers and allow more employees to participate in 401(k) plans.
Posted by Jill Johnson on January 13, 2020
Businesses in every industry and of any size are vulnerable to data hacking, but the manufacturing sector is victimized more often than many other industries. Over 50% of manufacturers suffered at least one data breach over the previous 12-month period, according to a recent survey.
Posted by Mark Janulewicz on January 10, 2020
This week, the Internal Revenue Service launched a new Gig Economy Tax Center on IRS.gov to help people in this growing area meet their tax obligations through more streamlined information.
Posted by Brian Kern on January 06, 2020
With the passage of tax reform legislation knows as the Tax Cuts and Jobs Act (TCJA), a significant opportunity exists for investors to defer capital gains tax owed.
Posted by Cheryl A. Jankowski on December 17, 2019
Some business owners design their estate plans without consulting a business valuation professional, but do-it-yourself valuations can be risky.