Who owns professional goodwill -- the professional corporation or the shareholder-employees in it? For tax purposes, the answer can make a big difference when a professional corporation is shut down. In this article, we'll explain why it matters and how you might want to plan in advance of a sale or liquidation to help ensure the best possible tax results.
Does your business reward employees with bonuses and gifts? These gifts, as well as fringe benefits, may have tax consequences for your company and the recipients. While it's not impossible for an employer to give a tax-free gift to an employee, it is difficult to do, as one Tax Court case illustrates. Educate your employees about the tax implications of bonuses, fringe benefits and perks to prevent a backlash of employee dismay at tax time. Click "Full Article" for a look at the issue.
Making Good Companies GREAT
You know you're GOOD. To make it out there, you have to be. Yet, something's telling you things could be even better. At HLA, we help our clients clarify their vision, develop plans to achieve goals, and put those plans into action. Through financial, tax, and strategic performance management direction, we help you reach your potential, and make your good company a GREAT company.
How Can We Help?
- Advanced Business Solutions
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