by Bruce E. Bell | Feb 16, 2022 | Bruce E. Bell, Insights
The determination is significant because different tax treatment results from the classification of the representatives. When manufacturers engage representatives to sell their products, a question arises as to whether the representatives are employees or independent...
by Bruce E. Bell | Feb 4, 2022 | Bruce E. Bell, Insights, Tax Corner
Question: I have a vacation home that I want to leave to my three children but I am not sure how to do so. Do you have any suggestions? Answer: There is no one way to...
by Bruce E. Bell | Dec 3, 2021 | Bruce E. Bell, Insights, Tax Corner
Question: Â Â Â Â Â Â I deal in cryptocurrency through my business. Customers sometimes pay me in Bitcoin and I sometimes use Bitcoin to pay suppliers. Will these transactions be treated as if payment was made in cash? Answer:Â Â Â Â Â Â Â Â Â Cryptocurrency is not the same as...
by Bruce E. Bell | Nov 8, 2021 | Bruce E. Bell, Insights
Many sales representative organizations, like other businesses, are structured as limited liability companies (LLCs). The preponderance of LLCs with more than one member are treated as partnerships for tax purposes. Some multi-member LLCs elect to be treated as...
by Bruce E. Bell | Nov 1, 2021 | Bruce E. Bell, Insights, Tax Corner
Question:       As the owner of a pass-thru entity, can I benefit by paying my state’s new pass- thru entity tax? Answer:         While state laws and situations vary, the new taxes many states throughout the country are imposing will likely benefit most entity...
by Bruce E. Bell | Oct 1, 2021 | Bruce E. Bell, Insights, Tax Corner
Question: Â Â Â Â Â Â A few years ago, I individually loaned a friend a sizeable amount of money. Since there is no chance I will be repaid, can I report a tax deduction for the amount loaned? Â Answer:Â Â Â Â Â Â Â Â Â Individuals who loan money in the non-business setting to...
