About Sonya Foster

This author has not yet filled in any details.
So far Sonya Foster has created 875 blog entries.

SLAT Trust Can Provide Opportunities

Estate tax planning can become complicated when multiple parties are involved. For example, you may be concerned about providing assets to a surviving spouse of a second marriage, while also providing for your children from your first marriage. Of course, you also want to take advantage of favorable estate tax

2022-05-11T09:38:55-06:00May 11th, 2022|

Balance Sheet Fair Value FAQs

In recent years, accounting rule makers have issued guidance that requires certain items on the balance sheet to be reported at “fair value.” Here are some answers to frequently asked questions about this standard of value and how it’s measured. What is fair value? Under U.S. Generally Accepted Accounting Principles

2022-05-11T09:11:06-06:00May 11th, 2022|

Tax Issues When Converting From a C Corporation to an S Corporation

Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before making a decision to switch. Here’s a quick rundown of

2022-04-26T12:27:19-06:00April 26th, 2022|

Business Meals Deduction for 2022

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022

2022-04-11T16:29:48-06:00April 11th, 2022|
Go to Top