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Business Tax Advisor

Tax issues can affect every part of a business. Get effective advice and information on how the tax code impacts your bottom line.
Latest Posts

Technology, Business, and Taxation, Part 4
May 12, 2007, 9:35 PM
On April 21, 2007, a press release announced a partnership between Dynamedia and Pizza.net "to bring real world food to Second Life." ...

Taxes and Divorce
April 03, 2007, 11:30 PM
Andre and Lana got divorced in January, 2006. The two children, aged 8 and 10 live with their mom and have periodic visitation with their dad. The divorce decree calls for the couple to file a joint return for 2005 ...

Technologh, Business, and Taxation part 3
April 03, 2007, 10:40 AM
I noticed an article today on the Discovery Channel online that illustrates how technology can cause major changes in the way things are done: GIANT MACHINE DESIGNED TO PRINT HOUSES.

Technology, Business, and Taxation
April 02, 2007, 9:35 PM
2020 and beyond: the Singularity (intelligent machines begin to produce discoveries that are too complex for humans to understand) ...

Technology, Business, and Taxation Part 2
April 02, 2007, 9:30 PM
Today, it's impossible to read through a newspaper or news website without seeing at least one or two discussions of the evils of one technology or another ... For as long as we have any freedom of choice in how ...

HOW FAST SHOULD YOUR BUSINESS GROW?
March 01, 2007, 12:06 AM
I recently viewed a video called Forty-Five Days. It was about the short, hellish life of broiler chickens that have been genetically engineered to put on weight much faster than normal chickens. The poor creatures had trouble standing on their ...

TAX EFFECTS OF TRANSFERRING ASSETS TO AN LLC
February 28, 2007, 11:22 PM
Several readers have written to ask what happens to business assets when a sole proprietorship becomes a Limited Liability Company (LLC). Last time I wrote about the legal aspects of transferring non-cash assets from the individual sole proprietor´s name into ...

TRANSFERRING ASSETS TO A CORPORATION OR LLC
February 26, 2007, 2:25 PM
Several readers have asked questions about transferring assets from their individual names to a Limited Liability Company (LLC). HT writes: I have been running my business as a sole proprietor (Sch C) and want to change to an LLC. I ...

Employee Use of Company Vehicle
January 29, 2007, 10:16 AM
It´s getting to be that time of year when business owners become concerned with the mechanics of getting tax returns completed — or at least getting a close enough estimate to file an extension without worrying about substantial penalties (an ...

C Corporation Losses
January 03, 2007, 5:24 PM
A reader writes: I have a two year old "c" corp. with a lot of deductions, but I do not [have] enough personal deductions. Is there a way to use some corp. deductions on my personal tax return? You can´t ...



Latest Comments in Business Tax Advisor posts

I have similar question to gatesdawn except in my situation we have a S corp with 3 business units. My partner and I want to leave the S corp intact with a single unit in it, he and I both form separate single member LLC's and move assets of one business unit into his LLC and the assets of the other business unit into my LLC. How will that work? What type of attorney would we need to consult with to get that done in TN.
By: ron on 4/13/09 at 4:59 PM
TAX EFFECTS OF TRANSFERRING ASSETS TO AN LLC
Does your explanation above apply when u transfer between LLCs? If a member contributed an investment property into the first LLC for membership interest, does this property automatically becomes the asset of the company and all transactions of income/expense to this property will be against the company books? A second LLC has been created recently to manage the assets for the first LLC and need the transfer the property over? How will the accounting work in this situation? Would it be the same as above? Contribute the property at cost basis or sell the property over to the new LLC?
By: gatesdawn on 2/2/09 at 2:21 AM
TAX EFFECTS OF TRANSFERRING ASSETS TO AN LLC
Patrick M. Phipps, Maurice L. Mills (Realdeck, RDI Enterprises, Bigguppy.com) are diabolical scam artists. They are trying to operate an online gaming site which is illegal in the United States. Steven ...
By: Steven on 4/15/08 at 6:47 PM
The Tax Gap
Great article. I edit a web based small business television channel and magazine in Australia - 'I'm Boss TV'. There are some great articles and TV segments on tax and money. Feel free to take a look and send through any feedback. www.ImBoss.tv. And feel free submit any articles for your credit across any of the categories. We're always looking for content and contributors. - Jake Challenor ...
By: Jake on 7/5/06 at 12:00 AM
The Tax Gap
This is really idiotic. If a parent wants to involve their kids into their business or their works it is a very good approach. It teaches them about work and prepares them for the rough patches of their lives. Yes, if the parents engage them in any work that poses danger to then I am against it other than it is a very good thing.
By: Razib Ahmed on 6/18/06 at 12:00 AM
Hiring Your Kids to Work in Your Business

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