By Kenneth H. Bridges, CPA, PFS March 2015
We believe (and certainly hope) that most of our business clients are regularly consulting with their health insurance advisors to be sure that they are in compliance with the Affordable Care Act …
By Kenneth H. Bridges, CPA, PFS March 2015
Real estate has always received very favorable treatment under our tax laws. For your residence, you get to take deductions for the interest and taxes, and then, when you sell it at …
By Kenneth H. Bridges, CPA, PFS December 2014
The U.S. has what is known as a “worldwide tax system” whereby it taxes its citizens and residents (including domestic corporations) on their worldwide income, from whatever source derived, and then permits …
By Kenneth H. Bridges, CPA, PFS December 2014
Companies frequently use contractors in lieu of “employees.” It is an arrangement that can work well for both parties. The contractor gets to maintain his or her sense of independence, may command …
By Kenneth H. Bridges, CPA, PFS December 2014
Tax rules which were enacted long before the LLC format came into existence provide that a general partner’s K-1 ordinary business income is subject to self-employment tax, while a limited partner’s K-1 …
By Kenneth H. Bridges, CPA, PFS August 2014
Prior to the 1990s, the partnership format was used almost exclusively by professional service firms (e.g. mostly CPA firms and law firms) and real estate and oil & gas ventures. Companies in …
By Kenneth H. Bridges, CPA, PFS August 2014
There has for many years been a requirement that any US person with a financial interest in or signature or other authority over a foreign financial account file with the Treasury Department …
By Kenneth H. Bridges, CPA, PFS August 2014
It is well-known that an employer can provide health insurance benefits to its employees tax-free under a group plan. It has also long been the rule of tax law that an employer …
By Kenneth H. Bridges, CPA, PFS August 2014
You can hardly pick up a newspaper today (assuming you still do that) without reading about “corporate inversions”. It seems like every U.S. multinational company has done one or is considering one, …
By Kenneth H. Bridges, CPA, PFS August 2014
Similar to S-corps, amongst the advantages of the partnership format for tax purposes (which includes most LLCs) is the ability to pass the tax losses through to the owners (for use on …