Avoiding the “Immediate Tax vs. Installment Payments” Mismatch by Carving Out Personal Goodwill Introduction When an S corporation owner (e.g., a father) wants to sell the entire business to his child (the son) using installment payments, common tax structures—like IRC §336(e) or §338(h)(10) “deemed asset sales”—often force immediate recognition of the entire built‐in gain, creating […]

Our Purpose “Make people’s lives better through better management of their taxes and finances.” Everything we do is centered on this goal. We want to help you establish order, reduce stress, and gain peace of mind with respect to your taxes and finances. Why a CPA Isn’t Always Enough While hiring a CPA to handle

For  S Corporation owners, understanding what constitutes a “reasonable salary” is essential for IRS compliance. However, managing this process—whether through a traditional payroll system or a “paper payroll” approach—can be intricate. In this article, we delve into the logistics of setting and reporting a reasonable salary, highlighting strategies for reclassifying profits as salary, documentation requirements,

In the accounting world, a month-end closing procedure is more than merely checking off tasks. It is vital to saving you the headache and stress that always accompanies the closing of an entity’s book. Therefore, if you want to create a precise streamlined process that leaves no accounting stone unturned, I highly suggest your team