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The Fiscal Cliff: What Should We Do?
November 26, 2012
The following infographic is a brief, non-comprehensive illustrated description of some potential economic effects associated with policies to ease the so-called "fiscal cliff".
This brief overview of some important considerations associated with the "fiscal cliff" of 2012 is by no means comprehensive. Always seek the advice of a competent professional when making important legal decisions.
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Intentionally Defective Grantor Trusts (IDGT) for Tax, Medicaid, & Asset Protection Planning
May 6, 2013
A grantor trust is a trust in which the grantor, sometimes called a settlor or trustor, retains an interest. One particular type of grantor trust, called an intentionally defective grantor trust (IDGT), leverages disparities in the federal income and estate taxes to provide opportunities for tax, Medicaid, and asset protection planning. More»
Self-Employment Tax: LLC v. S-Corporation
April 11, 2013
Although many new business owners who will actively participate in their businesses choose to organize limited liability companies (LLCs) as opposed to incorporating S-Corporations because of, among other things, greater flexibility and the lack of state-required reporting formalities, there is at least one potentially compelling reason to incorporate an S-Corporation, or at least elect taxation as an S-Corporation under Subchapter S of the Internal Revenue Code (IRC): potentially lower employment taxes. More»
