If you are planning to move your home into an LLC for business reasons, gifting a house to a family member, or setting up a complex trust, there is a new “watchdog” in town. As of March 1, 2026, the Financial Crimes Enforcement Network (FinCEN) has...
Key Provisions of the “One Big Beautiful Bill Act” On July 4, 2025, Congress passed the One Big Beautiful Bill Act, a comprehensive tax and estate law. It makes permanent several popular tax provisions first introduced in the Tax Cuts and Jobs Act (TCJA), adds...
June 24, 2025 Internal Revenue Code Section 1202: The Qualified Small Business Stock (QSBS) Exclusion Internal Revenue Code Section (“Code”) 1202 is a highly attractive tax incentive designed to encourage investment in small, growing businesses. It...
IRC 1031 Like-kind exchange By: Barry E. Haimo, Esq. June 19, 2025 What is a 1031 Like-Kind Exchange? At its core, a 1031 exchange, named after Section 1031 of the Internal Revenue Code, allows you to defer capital gains taxes and recapture and depreciation taxes when...
Understanding the Value of Succession Planning and Why You Need an Outside Perspective By: Barry E. Haimo, Esq. May 23, 2025 If you run a business, you know the importance of planning ahead. Every business sees changes, whether it’s from week to week, season to...
If you are a small business owner, you are likely to own your business through a business entity such as a corporation or limited liability company (LLC). You might also choose to have your business entity taxed as an S corporation. First, what is an S corporation?...
