by Bruce E. Bell | Sep 1, 2017 | Bruce E. Bell, Tax Corner
Question: I am unwinding the cross-purchase buy/sell agreement I have in place with the other 50% owner of my corporation. What are the tax consequences when we receive back from each other the policies of insurance on our lives?Answer: Corporate buy/sell...
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...
