If you are thinking about purchasing commercial property, there are several items that we discuss often with our clients. These are the three more common items raised during our discussions: Entity structure Different options depending on tax benefits, liability protection, and operational efficiency (usually, LLC or partnership for Real estate investments) Purchasing options (Cash flow)
Today, the U.S. Treasury Department announced the suspension of enforcement for Beneficial Ownership Interest (BOI) against U.S. Citizens and domestic reporting companies. The Treasury Department has confirmed that it will not impose penalties on U.S. citizens or domestic reporting companies for failing to comply with BOI reporting requirements, whether under current regulatory deadlines or future
If you are a business in PA, you might consider a contribution to an approved Educational Improvement Organizations. If you are a qualified business, you can received a PA tax credit of 75% of your contribution (90% if same contribution for two years). You need to make sure you meet the requirements (i.e. provide proof
Since Connecticut enacted the first Pass Through Entity (PTE) tax in April 2018, more States have enacted or proposed this tax tool. It was around 14 in June 2021, around 30 in January 2023 and at the date of this article is 36 States and one localty (NYC) according to the AICPA listing (link below).
