by Bruce E. Bell | Aug 2, 2017 | Bruce E. Bell, Tax Corner
Question: I intend to purchase real estate for the business operated by my S corporation. Should I purchase the property in the corporation’s name?Answer: Many business owners create separate entities to own their business real estate. Business operations...
by Bruce E. Bell | Jun 30, 2017 | Bruce E. Bell, Tax Corner
Question: I am buying a minority interest in a three member limited liability company which owns appreciated real estate. If the property is sold, will I be taxed on the appreciation that occurred prior to my purchase?Answer: There are various tax issues...
by Bruce E. Bell | Jun 1, 2017 | Bruce E. Bell, Tax Corner
Question: I am recently divorced in Illinois and wondering how my estate plan documents need to be modified as I no longer wish to provide for my spouse.Answer: Estate planning is a common concern for recently divorced individuals. As with other life...
by Bruce E. Bell | May 1, 2017 | Bruce E. Bell, Tax Corner
Question: I own a 50% interest in a corporation and have concerns about what might happen if I become disabled. Can I continue to receive a salary from my corporation if I become disabled? Answer: You raise an interesting and often overlooked concern. Many...
by Bruce E. Bell | Feb 1, 2017 | Bruce E. Bell, Tax Corner
Question: I would like to reduce my taxable estate but approximately two-thirds of my assets are held in a traditional IRA and the balance is held in cash. Is there any planning I can undertake?Answer: Traditional Individual Retirement Accounts...
by Bruce E. Bell | Jan 3, 2017 | Bruce E. Bell, Tax Corner
Question: I operate a business as a limited liability company which I am considering converting to an S corporation given the recent increase in the Social Security wage base. I am not certain I want to forego the liability protection I enjoy from...
