There are several advantages to establishing a limited liability company and many of these compensations revolve around the tax advantages. A limited liability company if often sought as a third alternative to forming a corporation or a partnership. Many corporations are formed because they offer attractive limits on the personal liability that the business may suffer due to debts or liabilities. Partnerships don?t offer the same kind of protection, but do provide better tax ...

Payroll tax penalty letters from the IRS need not be scary. This article tells you how to deal with the IRS with out emptying your bank account.

A cost segregation study allows property owners to both defer and reduce federal income taxes. When properly performed by an appraiser with expertise in cost segregation, this is a conservative tax planning tool which reduces federal income taxes by properly allocating the cost basis between land, 5-year, 7-year, 15-year, 27.5-year and 39-year property.

For roughly the last ten years, the internal revenue service has made a fairly major effort to be more taxpayer friendly. The Industry Tax Issue Resolution Program is one such step.

The tax code for the United States is over 50,000 pages. Buried in this code is the subject of per diem rates, a topic that can save businesses money on their taxes.

If your identity is stolen, your finances can quickly become a nightmare. A less obvious problem is the effect identity theft can have on your taxes.

An early distribution from an Individual Retirement Arrangement (IRA) or a qualified retirement plan need not be a ?taxing? experience. Fortunately, there are exceptions to early distributions.

The tax advantages of incorporating a business is one of the main reasons that owners choose to incorporate their businesses, no matter what market they work in. Other types of businesses, such as sole proprietorships, are not afforded nearly as many tax advantages as an incorporation. A move called income shifting is one that helps the business, and its owners, immensely. This is a method in which the total income of your corporation is divided among its members. How doe...

"In America there are two tax systems, one for the informed and one for the uninformed. Both systems are legal." One of America's most famous jurists, Justice Learned Hand made this statement over forty years ago. When used today, one would certainly have to include the little understood world of Individual Retirement Accounts (IRA?s). The point I am making here is that we all need to keep ourselves informed about what IRA alternatives are available to us. Being uniformed ...

There is an adage that claims that the only things certain in life are taxes and deaths. One could presume that tax laws are as easily determined and understood as one identifies death. When a person stops breathing and his brain stops functioning, he's dead. However, this is not the case with taxes. There is nothing easily understood, clear, and simple when it comes to tax laws. Thus, more tax troubles ensue not because of disregard for the tax laws but because of misinterpr...