As a business owner, you’re used to making tough decisions. Yet there’s one you may be putting off: How to transfer your business to new owners when you’re ready to move on.
Now could be the perfect time to review your options, thanks to a combination of currently beneficial estate and gift tax rules and low interest rates.
Here are techniques to consider.
Another option is an Employee Stock Ownership Plan. An ESOP is a type of benefit plan that lets you sell your company’s stock to employees while realizing tax breaks for your business.
Along with tax issues, business succession planning involves legal and financial decisions. Please call for a comprehensive analysis of the choices available to you.
Small businesses get some tax breaks in a new law just passed by Congress. The Small Business Jobs Act of 2010 extends 50% bonus depreciation for new equipment purchased during 2010. It increases for 2010 and 2011 the first-year expensing limit for new and used business equipment purchases to $500,000, and raises the phase-out limit on expensing to $2 million. (more…)
When small business owners think about the recent health care reform, they may be thinking only of its long-term implications. But the legislation actually provides an immediate tax break for qualified small businesses and nonprofit organizations. Beginning this year, the Patient Protection and Affordable Care Act offers a tax credit of up to 35% of employer-paid health care costs. Does your business qualify? The answer lies in a little math. (more…)
National Military Appreciation Month trivia question: How many military tax benefits can you name? (more…)
