There were a number of important tax developments in the fourth quarter of 2011. Be sure to consult your trusted tax advisors if any of these apply to you.
Posts Categorized: Business Planning
Study Shows Inherited Wealth Is Squandered
70% of intergenerational wealth transfers fail, according to research conducted on over 3,250 families who transferred wealth.
Employee or Independent Contractor? Your Chance to Come Clean
Whether you are an employer of thousands or an employer of one, you could be sitting on a tax powder keg. Here is some helpful guidance.
Al Davis, RIP
Oakland Raiders owner and former head coach Al Davis is famous for a lot of things, including his quote, “We don’t take what the defense gives us; we take whatever the hell we want.” Mr. Davis has gone on to his eternal rewards, leaving his family to face an adversary that is more intimidating than the Raiders in their glory years. But there is good news for the rest of us. Even when you are up against the IRS, there are ways to, in Mr. Davis’ immortal words, “Just win, Baby!”
Big Break for Family Businesses
Families now have the chance to pass a substantial stake in their businesses to the next generation—even before handing over the reins. But transferring ownership can raise complicated succession and estate-planning issues that families need to address before giving away so much as a share of stock.