A planning technique that is known to most tax professionals is for an owner of a private company to gift an interest therein to charity prior to a sale. This technique is only of interest to taxpayers who are charitably...more
Most business acquisitions are structured as purchases of assets in order to insulate the buyer from exposure to the liabilities of the seller. While that is generally an effective strategy, there are exceptions and nuances...more
4/1/2021
/ Acquisitions ,
Business Assets ,
Buyers ,
Commercial Activity Tax ,
Debt Relief ,
Environmental Liability ,
Fraudulent Transfers ,
Income Taxes ,
Sale of Assets ,
Sales Tax ,
Sellers ,
State and Local Government ,
Successor Liability ,
Unemployment Compensation System ,
Withholding Tax ,
Workers’ Compensation
Following enactment of the Families First Coronavirus Response Act and the CARES Act, Buckingham’s team of tax attorneys have been helping clients survive these difficult and unprecedented times in America. Below are some of...more
4/3/2020
/ CARES Act ,
Charitable Deductions ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Tax Credits ,
Tax Deductions ,
Tax Exemptions ,
Tax Relief
If you signed an LLC operating or partnership agreement prior to January 1, 2018, it may need to be amended to accommodate a significant new rule regarding taxation of partnerships. Effective for tax years beginning after...more
6/27/2019
/ Business Taxes ,
General Partnerships ,
Income Taxes ,
IRS ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
New Legislation ,
New Rules ,
Operating Agreements ,
Partnership Agreements ,
Tax Audits ,
Tax Liability
A Q&A guide to remote sellers’ exposure to sales and use tax in Ohio after the US Supreme Court’s decision in South Dakota v. Wayfair, Inc. in 2018. This Q&A addresses issues including nexus for remote sellers, taxability...more