News & Articles

Let's Take a Closer Look at New Business Tax Reforms

Posted on Mon, Jan 15, 2018

The Tax Cuts and Jobs Act (TCJA) provides businesses with more than just lower income tax rates and other provisions you may have heard about. Here's an overview of some lesser-known, business-friendly changes under the new law, along with a few changes that could affect some businesses adversely.

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Tags: Assets, Business Finance, intangibles, Tax Cuts and Jobs Act (TCJA)

Watch Out for Potential Tax Bill When Converting Corporation

Posted on Thu, Dec 11, 2014

Your medical practice, currently running as a C or S corporation, may be considering the idea of converting to a limited liability company (LLC) or limited liability partnership (LLP). Under the right circumstances, that could be a good idea from a tax perspective. Here's why: Both LLCs and LLPs can be treated as partnerships for federal tax purposes. The tax rules for partnerships are far more flexible than the corporate rules.

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Tags: EHTC Article, Assets, IRS, Newsletter, Articles, LLC, LLP, Corporation, intangibles, Taxes, Goodwill