Question: Under the new tax law, can I deduct 20% of my S corporation income?
Tax Corner
Selecting the Right Business Structure
Question: Can you provide some guidance from a tax perspective to my business partner and I on the best structure for a new business we are starting?
Avoiding S Corporation Passive Income Tax
Question: My S corporation, previously a C corporation, has historically received rental income from a real estate property. Now that the company’s operating business has been sold, can the S corporation passive income tax on rental income be avoided?
Gain Exclusion on Small Business Stock Sales
Question: I am selling the stock of my small, closely-held corporation. What must I do to exclude the gain from taxation?
Maximizing Benefits with Stock Options
Question: I was granted incentive stock options and non-qualified stock options from my company prior to the time the company went public. Can you explain the tax consequences and whether I am better off buying and holding the stock or doing cashless exercises?
Distributing Bypass Trust Assets for Income Tax Savings
Question: As a surviving spouse, most of my assets are held in my deceased husband’s bypass trust to which I am entitled to distributions of income and principal. Since I will no longer be subject to estate taxes, is there an advantage to my withdrawing as much money as possible from this trust?
Tax Consequences Upon Sale of Limited Liability Company
Question: I am one of several members in a limited liability company treated as a partnership for tax purposes which is being sold. If we sell our membership interests to the buyer, can the gain be reported as capital gain?
Fiscal Year Election for Qualified Revocable Trusts
Question: My father died holding all of his assets in a revocable trust. Must the trust’s tax returns be filed using a calendar year-end?
Evaluating Roth IRA Conversions After New Tax Law
Question: I have been pondering converting my traditional IRA to a Roth IRA for many years and question whether the new tax law makes a conversion more or less beneficial?
Preserving Alimony Deductions After New Tax Law
Question: My spouse and I are about to divorce. Can I deduct any alimony payments I make to my spouse?