January 15, 2016 |
S Corporations and Shorter Built-in Gains Periods
S corporations are most popular as a tax vehicle because it allows for only one layer of tax instead of the double layer of tax ...
Learn MoreS Corporations and Shorter Built-in Gains Periods
S corporations are most popular as a tax vehicle because it allows for only one layer of tax instead of the double layer of tax usually imposed on a typical corporation. Rather than the S corporation paying tax, the S corporation’s taxable income passes through to the shareholders and is reported on those shareholders’ personal tax returns.
The corporation generally is able to distribute a company in profits to the shareholders free of federal taxes. To avoid corporations attempting to convert over to an S corporation and then sell their assets off, the internal revenue code mandates a 10 year built-in gains tax on S corporations. If the S corporation sells assets within this period, the corporate level tax normal rate is paid.
Schedule a meeting with a member of our advisory team
Blogs for January 2016
January 14, 2016 |
What You Need to Know About Rising Interest Rates and Estate Planning
The Federal Reserve’s most recent decision to increase interest rates does carry implications for individuals who are considered affluent. This mostly has to do with ...
Learn MoreJanuary 13, 2016 |
Materials You Should Have Before Applying for Medicaid
After discussing your Medicaid application and preparing for it in advance with your elder law attorney, there may be an appropriate time you should begin ...
Learn MoreJanuary 12, 2016 |
Tips for Small Business Owners Who Have Ignored Their Succession Plans
Many small business owners know the struggle of keeping track of multiple priorities working long hours and taking risks. However, even the most successful small ...
Learn MoreJanuary 11, 2016 |
Why the Right Insurance is So Important for Your Asset Protection Plan
The first step in any plan to protect your assets should involve obtaining the right insurance. Many self-employed individuals, for example, do not realize that ...
Learn MoreJanuary 8, 2016 |
Digital Planning Options for Your Estate: To Thoughts of Worldly Goods
Our technological world now adds our digital legacies and a key is to go through all the questions that will, in their entirety, result in ...
Learn MoreJanuary 7, 2016 |
Conscience and Ethics in Estate Planning
Estate planning is a demonstration of personal values. As humans we have the unique ability to conceive and do the right thing like writing down ...
Learn MoreJanuary 6, 2016 |
There is No Magic Pill for Asset Protection Planning
There is no question that cyber threats exist and that for many it is not a question of if but when. One issue is that ...
Learn MoreJanuary 5, 2016 |
Business Succession Planning: What Are the Values at Work?
A business reflects its owner, and a clear plan can keep that concern on the path that was chosen. Lack of a succession plan could ...
Learn MoreJanuary 4, 2016 |
Elder Law: Watching the Dangers of High Health Costs
Fidelity Investments has conducted an annual survey for the 7th straight year and 62% of those individuals asked in the survey reported unexpected expenses as the key ...
Learn MoreBrowse our Archives
Schedule your free Exploratory phone call
Click here to see how we
can be of assistance.
Payment Portal
for Tax and Accounting invoice
This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.
Our Social Media
Connect with us on Social Media using the following buttons:
Visit our Podcasts
Listen in, Join the Conversation!
Recent Posts
Irrevocable Life Insurance Trusts: A Strategic Tool for Legacy and Estate Planning
Learn how irrevocable life insurance trusts (ILITs) can help families manage estate planning goals, provide liquidity, and support multigenerational wealth transfer strategies. For families focused on preserving wealth across generations, estate planning often involves more than drafting a will or updating ...
<p>The post Irrevocable Life Insurance Trusts: A Strategic Tool for Legacy and Estate Planning first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
The Hidden Cost of a Disjointed Financial Portfolio
Many families and business owners unknowingly create financial inefficiencies by spreading investments and insurance across multiple advisors and institutions. Learn why coordinated financial oversight matters. Successful business owners and high-net-worth families often accumulate financial accounts over time. A retirement account here. A brokerage relationship there. ...
<p>The post The Hidden Cost of a Disjointed Financial Portfolio first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
Tax Traps to Avoid in Your 30s, 40s, and 50s
Avoid costly tax mistakes in your 30s, 40s, and 50s with practical financial planning strategies designed for business owners, professionals, and families building long-term wealth. Tax planning is not a one-time exercise. As your income, investments, business interests, and family responsibilities evolve, ...
<p>The post Tax Traps to Avoid in Your 30s, 40s, and 50s first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
