I'm starting a new business from the ground up renting Lyft and Uber vehicles. I'm starting with a $100,000 loan. I'm having trouble balancing my balance sheet between assets, equity, and liability. The SBA business plan tool states that they should match for the beginning and ending dates. What am I missing?

January 8th, 2024

I have a new business established as an S-Corp in the IT field. Can I hire my partner as an employee, and what about other friends or family members? Additionally, I am considering a corp-to-corp arrangement with another vendor. What steps should I take to set up this structure, and what expenses can my company cover for employees?

March 21st, 2023

Why is the Alternative Minimum Tax (AMT) relevant to Cancellation of Debt (COD) income?

July 31st, 2023

A closely held 100% owned PHC with a 3/31 year end - the owner died in 2018 - the corporation has $75,000 in cash that it wants to distribute to beneficiaries of the owner's will - can distributions be made to the beneficiaries with no tax effect to anyone? If not, what would need to be done - for the moment the corporation cannot be closed due to the ongoing receipts of royalties and the checks are made out to the corporation.

October 27th, 2023

I inherited a home and have lived in it for about 5 months. I want to sell it but want to avoid capital gains tax. How can I do this?

June 7th, 2023