by hoodlawkc | Business Planning, Tax Planning
W-2s and Form 1099 Misc Note that all employers must provide W-2s to employees and Forms 1099 Misc for the 2016 taxable year to independent contractors on or before January 31, 2017. Furthermore, the same January 31, 2017 date applies to the filing requirement with...
by hoodlawkc | Business Planning, Tax Planning
Disputes between partners in a partnership is a common occurrence and should be an expected hurdle for partners from the beginning of a business venture. The impact of partnership taxation and lack of flexibility of like-kind exchanges is often the cause of some of...
by hoodlawkc | Estate Planning
One of the Hood Law Group’s areas of specialty is the focus on a well thought out and structured estate plan to account for the inevitable event of one’s passing. Unfortunately, end of life planning tends to be an area many people tend to “put off” for one reason or...
by hoodlawkc | Business Law, Business Planning, Tax Law
As mentioned in our last newsletter, the IRS continues to keep a watchful eye over S-corporations, requiring minimum levels of “reasonable compensation” to owners who may be otherwise seeking to downplay compensation for tax avoidance purposes. S-corporation...
by hoodlawkc | Business Law, Business Planning
November of last year, the Bipartisan Budget Act of 2015 was signed into law, repealing the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) audit rules and changing the procedures for partnership audits. The new legislation renders many partnership and...
by hoodlawkc | Business Law, Business Planning
Often, S corporation shareholders serve as officers, directors and employees of their corporation, as S corporations have a small number of shareholders because they are usually family-owned and/or closely-held businesses. This may present a choice for these...
