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A Section 83(b) Election is a provision in the Internal Revenue Code that allows taxpayers who receive restricted stock or other property subject to vesting, such as stock options or restricted stock units, to elect and include the fair market value (FMV) of the property at the time it was granted ...

When you decide it’s time to sell your company, you will have to sell the assets of your company to the prospective buyer. Based on the agreed purchase price between the buyer and seller, the purchase price needs to be allocated among the various asset categories. Upon the sale of a business, the ...

When comparing a Limited Liability Company (LLC), a Limited Partnership (LP), and an S Corporation (S-Corp), it is essential to consider their differences in terms of structure, liability, management, and taxation for different business needs. Each entity type offers distinct advantages and ...

When determining their tax reporting and compliance requirements, there are many factors that private equity firms must consider. Private equity firms are setup as tiered structures, generally with four levels: the portfolio investment level, the investor level, the fund level, and the fund manager ...

The Internal Revenue Service (IRS) utilizes various forms to ensure compliance with the United States tax laws, especially regarding information reporting and withholding requirements. Navigating the complexities of IRS forms and compliance is crucial for both individuals and businesses engaged in ...

Many high net worth individuals are increasingly flocking to states like Florida or Nevada due to their lack of a state income tax. However, under the provisions of IRC Sec. 933, a move to a U.S. territory, like Puerto Rico, may offer even more lucrative tax incentives than a zero income tax state. ...

Accounting methods, whether general (like cash or accrual) or specialized (e.g., long-term contract methods), are pivotal for financial reporting. This guide provides a quick reference for the process of changing accounting methods, encompassing IRS consent, Form 3115 submission, and key ...

The IRS has increased its compliance efforts with the objective of accurate reporting and payment of Self-Employment Contributions Act (SECA) taxes. This pertains specifically to individual partners who hold the status of a “limited” partner but may not necessarily meet the criteria of a limited ...