Articles & Videos
Employee Retention: Reasons Employees Leave
Employee Retention: Reasons Employees Leave Workers still consider a competitive pay and benefits package to be indispensable, but employers need to offer more than that to keep employees satisfied and on the job. Nearly all of the workforce (96 percent) rated a fair salary as very or somewhat important and 93 percent said the same…
The 7 Traits of an Exceptional & Successful Entrepreneur
By Robert Moment Though some people seem to have the Midas touch and easily turn everything to gold, most of us have to give our endeavors lots of time, effort and the sweat of our brow before seeing things come to fruition. The simple truth is that the majority of us are simply not born…
How to Organize a Seminar or an Event
By Matt Bacak Seminars and events have always been implemented as a holistic experience for participants. Thus, organizing a seminar an event requires extensive planning and preparation with most work implemented at least a few months before the actual event. Most of the time, seminars seem to run like clockwork with all events flowing smoothly…
Real Estate Agents are Same as Brokers for “Real Estate Professional Rule” for Passive Losses
Real Estate Agents are Same as Brokers for “Real Estate Professional Rule” for Passive Losses Taxpayer victory in Tax Court Real estate agents can claim the real estate professional exception to the passive loss limitations. The I.R.S. tried to argue that the taxpayer needs to be a “Broker” not a just an “Agent” to meet…
10 Tips to Reduce Your Tax Burden
10 Tips to Reduce Your Tax Burden Updated: 1/3/13 With the start of a new year, tax season will soon be upon us. For 2012 returns, the tax filing deadline is April 15, 2013. Now is a good time to look for tax reduction strategies in preparation for filing your tax return. Here are ten…
Avoiding the AMT Trap
Avoiding the AMT Trap Updated: 10/23/2014 More and more taxpayers are finding a hidden tax on their individual tax returns. The alternative minimum tax (AMT) attempts to ensure that high income individuals who benefit from the tax advantages of certain deductions and exemptions will pay at least a minimum amount of tax. This tax was…
Hidden Costs of Estate Settlement
Hidden Costs of Estate Settlement As you look for ways to improve the financial outlook for your family, give extra attention to your choice of an executor for your will. Generally, the fee for settling an estate relates to the responsibilities of the job, not to who does the job. That means that anyone you…
Self Employed Refinancing Problems – What Can Business Owners Expect?
Self Employed Refinancing Problems – What Can Business Owners Expect? By Tristan Hunt Self Employed Borrowers at Greatest Risk of Foreclosure It’s a hot topic. Millions of self-employed borrowers who purchased or refinanced a home in the past 5 years under liberal “stated income” or “no documentation” mortgage programs are finding they cannot qualify to…
How to Raise Children That Become Entrepreneurs
How to Raise Children That Become Entrepreneurs By Lauren Hidden Ever since my kids can remember, I’ve worked from home. Sometimes I have to remind them that I’m not sitting home playing with their toys or eating bon-bons when they’re at the babysitter or at school, but for the most part they “get it”. As…
Transferring Assets to a Second Spouse (and to children from the first)
Transferring Assets to a Second Spouse (and to children from the first) Elizabeth and Thomas Carr (names fictitious), both in their late 60s, each have one child from a prior marriage. During the 30-plus years of their marriage, they each have accumulated an estate of over $5 million. The full $1.5 million credit against estate…
The Roth IRA Advantage: A Closer Look
The Roth IRA Advantage: A Closer Look Since its debut in 1997, the Roth IRA, naturally enough, has been sold mainly as a retirement account. To be sure, the prospect of a stream of tax-free income to support a comfortable retirement is a powerful stimulant. To earn that freedom from taxes, you do have to…
Classification of Accepted Patterns of Reorganization
Classification of Accepted Patterns of Reorganization The seven acceptable patterns of reorganization may be classified into three categories: Acquisitive, Divisive, Re-capitalizing. Acquisitive reorganizations Type “A,” “B”, “C,” and acquisitive D, in which one Corporation acquires another corporation’s stock, assets, or some combination of both. Divisive reorganization Type D involves the division of one corporation into…
Details of Patterns of Reorganization
Details of Patterns of Reorganization • “A” Reorganization • “B” Reorganization • “C” Reorganization • “D” Reorganization • “E” Reorganization • “F” Reorganization • “G” Reorganization “A” Reorganization Type “A” Reorganization consists of • Merger • Consolidation Both involve the acquisition of one company’s assets by another. Merger Explanation: • Target transfers its assets and…
“B” Reorganization
“B” Reorganization Type “B” involves the acquisition of stock of one corporation by another, and the target corporation becomes a subsidiary of the acquiring, as a result. Requirements of “B” Reorganization 1) The acquisition must be one of a series of acquisitions that are part of an overall plan to acquire the requisite control. 2)…
“C” Reorganization
“C” Reorganization The target corporation must liquidate as part of the plan of reorganization unless the IRS waives this requirement.’ As a result, the shareholders of the target corporation become shareholders in the acquiring corporation. In determining the tax consequences to the liquidating target, the reorganization provisions govern-not the liquidation rules of §§ 336 and…
“D” Reorganization
“D” reorganization: “Spin-off” and “Split-off” acquisitive d reorganization “D” Reorganization Explanation: * Corporate T contains the assets of former corporation A and of T. * Corporation A goes out of existence Corporation A’s shareholder’s control Corporation T. Requirements for Divisive “D” d reorganization requirements imposed by IRC §355 * Distribution of Control -by the…
“E” Reorganization
“E” Reorganization The “E” reorganization is defined as a re-capitalization – the exchanges of stock and securities for new stock and/or securities by the corporation’s shareholders. It involves only one corporation and the re-configuration of its capital structure. Stock for stock Differences in the voting rights, dividend rates, and preference on liquidation are ignored. Bonds…
Lending Money to Your Corporation
Lending Money to Your Corporation By Alan L. Olsen, CPA, MBA (tax) Managing Partner Greenstein, Rogoff, Olsen & Co. LLP Starting a business takes a substantial amount of money and effort. There is a correct process to go through if you want to lend money to a corporation. First, you must properly document the transaction.…
How to Find Profitable Investment Properties
Want to know how to find profitable investment properties? Read on to see how to determine property values by one of our valuation analysts. The Discount for Lack of Control (DLOC) vs. The Minority Interest Discount (MID) The Business Valuation Glossary provides these definitions of two similar terms: Discount for Lack of Control – an…
Business Valuations
Business Valuations The Business Valuations group at Greenstein Rogoff Olsen & Co provides the expertise of a large big four firm with the hands on individualized service of a small local firm with regional prices. We are committed to provide our clients and their advisors with the highest quality services and support available. Valuation Process…