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So far Sonya Foster has created 1090 blog entries.

Handle Buy-Sell Agreements with Care

Handle Buy-Sell Agreements with Care If you own an interest in a family-owned or other closely held business, a buy-sell agreement is a valuable document to have in place. These agreements specify whether — and under what circumstances — owners’ interests may be transferred. Buy-sell agreements should be planned and

2021-04-12T14:55:54-06:00September 25th, 2018|

Vacation Home Rentals and Taxes

Vacation Home Rentals and Taxes Do you own a vacation home? If you both rent it out and use it personally, you might save tax by taking steps to ensure it qualifies as a rental property this year. Vacation home expenses that qualify as rental property expenses aren’t subject to

2021-04-12T14:55:55-06:00September 25th, 2018|

Taxes and Gambling Wins or Losses

If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact. Wins and taxable income You must report 100% of your gambling winnings as taxable income.

2021-04-12T14:55:55-06:00September 11th, 2018|

Family Business Succession and FLPs

One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership is long before the owner is ready to give up control of the business. A family limited

2021-04-12T14:55:55-06:00August 28th, 2018|
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