We don't want to rush you but you have:
left until your taxes are due
Main Menu
Tax Tips Small Business
| Thinking of Selling Your Corporation? |
Carefully review your options before making a decision When it come time to sell your corporation, you have two options. You can either sell the corporation stock or have the corporation sell the assets and distribute the proceeds. The tax implications of the two sales are very different. If you choose to sell the stock, you are the seller. The corporation is not affected by the transaction. The new owner steps into your shoes as the shareholder and takes over the existing corporation. If your share of the proceeds exceeds your basis in the stock, you'll have a capital gain to report on Schedule D. |
| Read more... |
Small Business Quick Tip
|
|
| Are You Putting Investments in Your Child's Name? |
|
New rules tighten your options Beginning with the 2006 tax year, children, under the age of 18 who have unearned income in excess of $1,700,are taxed at their parent'shigher rate. Previously, this rule only applied to children who were under the age of 14. This new rule does not apply to married children who file a joint return, or to distributions from certain qualified disability trusts. Generally, unearned income includes interest and dividend income, capital gains, taxable social security benefits, and pension distributions.
|
Tuesday, 06 January 2009
Tax Tips Personal
| Did You Move This Year? |
| Your moving expenses may be deductible If you moved this year because of a change in your job location or because you started a new job, you may be able to deduct the reasonable expenses of moving household goods and personal effects to your new home. The expenses of traveling to the new home including lodging expenses, are also deductible. Meals, however, are not. |
| Read more... |
Personal Quick Tip
|
|