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A recent survey found that many younger investors are seeking opportunities beyond traditional stocks and bonds. These may include investments in real estate, cryptocurrency and private equity. Each asset class offers unique advantages and disadvantages that require due diligence to minimize costly mistakes and maximize potential returns.
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Economic uncertainty has caused a number of businesses to close in recent years. Many other businesses have closed simply because the owners wanted to retire. Before you wind down a business that operates as C corporation, it's important to review the tax issues at the corporate and shareholder levels. Here's an overview of the federal income tax issues that arise from a complete corporate liquidation.
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If your business is struggling to make ends meet, you're not alone. Many U.S. businesses filed for bankruptcy in 2024. This article explains what's causing the recent upswing, how the bankruptcy process works and why it pays to seek outside guidance.
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The Tax Cuts and Jobs Act includes a provision that temporarily increases the unified federal estate and gift tax exemption for 2018 through the end of 2025. Wealthy individuals who've been worried about the looming expiration of this favorable provision can likely breathe a post-election sigh of relief. Here's what to expect on the estate and gift tax front this year.
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Business owners and executives often wish their employees worked as if they owned part of the company. An employee stock ownership plan (ESOP) can make that a reality while offering tax breaks and a smoother path for succession planning. This article discusses how ESOPs work and their tax impact.
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The so-called "sharing economy" is growing by leaps and bounds. This can be a great way to make money while achieving a desirable work-life balance. But it's not right for everyone. Here are tips to launching a successful gig venture, along with potential downsides and tax consequences to consider before becoming a full- or part-time gig worker.
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Every year, the amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. This chart provides some tax figures for 2025, compared with 2024, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions and more.
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Buy-sell agreements can offer financial protection to business owners and their heirs. A well-drafted buy-sell agreement can also help minimize income taxes and bypass IRS estate tax challenges. Here are some buy-sell basics for you to know, but be aware that this is a complex area that you should tackle with your trusted tax and legal advisors.
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When life throws you a curveball or an opportunity that's too good to pass up, you might want to tap into your tax-deferred retirement savings for extra funds. While this may be convenient, it's important to understand the full tax cost. If you're under age 59, the total includes a 10% early-withdraw penalty, unless an exception applies. Here are details to help decide what's right for your situation.
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Next year, we expect to see significant activity on the federal tax front. And many business owners are optimistic that any tax law changes under the GOP-controlled Congress will be favorable for them, including a likely extension and possible expansion of the Tax Cuts and Jobs Act. Here's a closer look at what business-related changes might be on the table for 2025 and beyond.
