Should You Convert Your Business From a C to an S Corporation?
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures…
Read More At Burkett Burkett & Burkett Certified Public Accountants, P.A., we provide a full range of services to individuals, small and large businesses, professional firms, and governmental and non-profit entities.
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You May Be Entitled to Tax Breaks if Caring for an Elderly Relative
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in…
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Pay Attention to the Tax Rules if You Turn a Hobby Into a Business
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open…
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Growing Your Business With a New Partner: Here Are Some Tax Considerations
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate:…
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Watch Out for “Income in Respect of a Decedent” Issues When Receiving an Inheritance
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may…
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Update on Retirement Account Required Minimum Distributions
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required…
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