by Bruce E. Bell | Jul 1, 2014 | Bruce E. Bell, Tax Corner
Question: Since limited liability companies do not pay taxes, is there any reason why I should concern myself with the tax consequences of a limited liability company in which I am buying a minority interest?Answer: Tax due diligence is an important...
by Bruce E. Bell | May 1, 2014 | Bruce E. Bell, Tax Corner
Question: Â I am a 50-year-old sole owner of a corporation, receive $200,000 per year in salary and have one employee who earns approximately $50,000 per year. My employee has no interest in contributing to a 401(k) plan. Am I prohibited from participating in a 401(k)...
by Bruce E. Bell | Apr 1, 2014 | Bruce E. Bell, Tax Corner
Question:  My colleague and I will become equal owners of a new limited liability company we are creating. My colleague will be contributing cash and I will be rendering services in return for our ownership interests. Are there any tax consequences? Answer:  The tax...
by Bruce E. Bell | Mar 1, 2014 | Bruce E. Bell, Tax Corner
Question:  I wish for my estate to pass to my children upon my death and bypass my spouse. Are there any obstacles I need to be aware of? Answer:  Various laws create rights for surviving spouses upon death. While a complete discussion of this subject is beyond the...
by Bruce E. Bell | Feb 1, 2014 | Bruce E. Bell, Tax Corner
Question: I am contemplating loaning money to my daughter to help her purchase her first residence. Does this make sense?Answer: In the right circumstances, a home loan from a parent to a child can be beneficial to both parties.A home loan can be an...
by Bruce E. Bell | Jan 1, 2014 | Bruce E. Bell, Tax Corner
Question:  I am the sole owner of stock in a corporation in which my child is actively employed. I wish to pass my shares to my child but provide a continuing income stream to my spouse once I cease working for the company. I do not want my spouse involved with the...
