by Bruce E. Bell | Oct 3, 2016 | Bruce E. Bell, Tax Corner
Question: I want to issue shares of stock of my corporation to a loyal employee but my accountant says it would be too expensive from a tax perspective. Can you explain? Answer: When a corporation issues shares of its stock to an employee for no...
by Bruce E. Bell | Aug 31, 2016 | Bruce E. Bell, Tax Corner
Question: Any suggestions for deferring taxes on the sale of my artwork which has greatly appreciated in value?Answer: Art collectors may face significant income tax liabilities...
by Bruce E. Bell | Aug 1, 2016 | Bruce E. Bell, Tax Corner
Question: I am the beneficiary of an Illinois irrevocable trust which holds assets for me. The existing trustee wishes to resign but I am uncomfortable with the named successor trustee. Is there an alternative to changing Trustees without going to...
by Bruce E. Bell | Jul 1, 2016 | Bruce E. Bell, Tax Corner
Question:Â Is there a way for my spouse and I to protect our joint securities portfolio from creditors? Answer:Â There are various available techniques for shielding personal assets from creditors. One commonly-used technique involves creating a limited liability...
by Bruce E. Bell | May 31, 2016 | Bruce E. Bell, Tax Corner
Question:Â I will be spending the winter months in my recently-purchased Florida home and residing the balance of the year in my Illinois residence. Can I claim Florida as my State of residence for tax and other purposes? Answer:Â The State of Florida is no doubt an...
