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The $2 trillion federal stimulus package is intended to help American families and businesses, both large and small, as they struggle to survive economically during the COVID-19 pandemic that has already killed tens of thousands around the world. The legislation is the largest economic rescue in modern American history and will impact millions of people[…]

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Many people dream of being their own boss, free from the constraints of someone else telling them what to do – and when. But, starting your own business and taking more control of decisions that impact your life can seem overwhelming and out of reach. Still, becoming self-employed doesn’t need to be just a pipe[…]

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Filing your individual tax return, no matter how complex or relatively simple, can be very time consuming. Applying for an extension from the Internal Revenue Service is a way to give yourself an additional six months to get all of your paperwork in order. Do keep in mind, however, that if you owe the IRS[…]

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Due to concerns that partnerships may not be able to comply with its new mandate for the way they should report partners’ capital accounts, the IRS has postponed the requirement for reporting partners’ shares of partnership capital on the tax-basis until 2020. (See Notice 2019-66). Under old law, partnerships could report partners’ capital on a[…]

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So, you’ve considered the market and the time feels right to sell your business. It’s a big decision that requires a number of serious considerations to ensure you not only get the best price, but also get through the highly detailed process as smoothly as possible. One of the very first things you’ll want to[…]

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For years, taxpayers, and in particular, wealthy taxpayers, have sought to reduce their tax burden by establishing residency in states with lower tax rates.  Florida is a favorite destination because it has no state income tax. Financial experts warn that the process is more challenging than it appears, however.  While you can have more than[…]

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For small business owners, planning for succession of the business is often overlooked. Whether it’s simply an oversight or being too busy to seriously consider how the business will continue upon your retirement or a more unexpected life experience, planning for who will take over will help ensure that people you choose will assume ownership[…]

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