CPA Blog

The tax advantages of including debt in a C corporation capital structure

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Published: Thursday, 16 May 2024 09:28

Written by Phillip Strickler, CPA.CITP

Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal tax code treats corporate debt more favorably than corporate equity. So for shareholders of closely held C corporations, it can be a tax-smart move to include in the corporation’s capital structure:

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Pay attention to the tax rules if you turn a hobby into a business

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Published: Friday, 10 May 2024 09:03

Written by Phillip Strickler, CPA.CITP

Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or maybe you’d like to turn your sewing or photography skills into an income-producing business.

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8 key features of a customer dispute resolution process for businesses

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Published: Friday, 10 May 2024 08:57

Written by Phillip Strickler, CPA.CITP

No matter how carefully and congenially you run your business, customer disputes will likely happen from time to time.

Some of the complaints may be people looking to negotiate a discount, “game the system” or even outright defraud you. But others could be legitimate complaints arising from mistakes on your company’s part, technological glitches or, perhaps worst of all, fraudulent actions by a third party.

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Taxes when you sell an appreciated vacation home

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Published: Wednesday, 01 May 2024 09:00

Written by Phillip Strickler, CPA.CITP

Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when selling an appreciated vacation home.

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