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Wednesday, July 15, 2020 | History

2 edition of Tax planning for the closely held corporation found in the catalog.

Tax planning for the closely held corporation

Dale W. Spradling

Tax planning for the closely held corporation

by Dale W. Spradling

  • 287 Want to read
  • 3 Currently reading

Published by American Institute of Certified Public Accountants in New York (1211 Ave. of the Americas, New York 10036-8775) .
Written in English

    Places:
  • United States.
    • Subjects:
    • Close corporations -- Taxation -- United States.,
    • Tax planning -- United States.

    • Edition Notes

      Statementby Dale W. Spradling.
      ContributionsAmerican Institute of Certified Public Accountants. Continuing Professional Education Division.
      Classifications
      LC ClassificationsKF6484 .S53 1993
      The Physical Object
      Pagination1 v. (various pagings) :
      ID Numbers
      Open LibraryOL1197184M
      LC Control Number94189786

      The IRS provides valuation criteria for closely held businesses that are generally accepted by appraisers and the courts. The criteria include the history of the business, economic outlook, book value, earning capacity, dividend-paying capacity, goodwill and other intangibles, past sales of company stock, and stock of comparable businesses. : Drake's Business Planning: Closely Held Enterprises, 5th: Builds on foundational planning discussions by highlighting the planning impacts of recent unprecedented pro-business changes, including those in the Tax Cuts and Jobs Act of

      income tax law directly to the closely-held corporation and its share-holders in a succinct manner and in an easily readable format. Current tax problems are identified and solutions offered in a no-nonsense approach. Moreover, tax planning is emphasized from. ALL TYPES OF CLOSELY HELD BUSINESSES can use buy-sell contracts. The two most common types, cross-purchase and redemption agreements, typically use insurance to fund the purchase of ownership interests. audit or tax return. Net book value is not typically indicative of fair market value. , estate planning for individuals and the effect.

        The discussion of various forms of organization and their respective taxation sets the stage for multiple discussions about income tax saving and estate planning opportunities for the business owner. Chapter 4 contains a discussion of compensation planning in the closely held corporation. The reasonable compensation standard is discussed. Capital gains and losses are either long-term, meaning that you held the asset for at least one year and one day before you sold it; or short-term, if you held it for less than one year. Capital losses are used first to offset capital gains of the same kind, so long-term losses offset long-term gains.


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Tax planning for the closely held corporation by Dale W. Spradling Download PDF EPUB FB2

"Prepared for distribution at the Tax planning for the closely held corporation program, July-September " Description: pages (pages blank) ; 22 cm. See also the Business Tax Planning package, which includes the online version of this PPC planning guide.

Based on the lifecycle of forming, operating, and disposing of a closely held corporation, PPC's Tax Planning Guide - Closely Held Corporations addresses the issues that are encountered when responding to client questions or planning transactions, from forming and operating the.

The valuation of closely held companies is a large and growing practice. However, most people are not aware of this valuation activity since the companies being valued are closely held and, thus, private in nature.

Additionally, since closely held entities are typically smaller than publicly traded entities, fewer investors are affected by the results of such valuations. "Prepared for distribution at the tax planning for the closely held corporation program, October-December, " Description: pages (pages blank) ; 22 cm.

Series Title: Tax law and estate planning series.; Tax law and practice course handbook series, no. Responsibility: Byron L. Income Tax Issues When Planning for the Sale of a Closely Held Business The Wealth Counselor, Volume 7, Issue 9 When a closely held business is a significant part of a client’s estate, as is often the case, business succession planning becomes an important part of the client’s estate planning.

Once Upon A Time. I recently recalled a client that was referred to us a few years back, shortly before it was acquired by a larger company. The client was closely held by U.S.

individuals and by an S corporation, and was organized as a Delaware LLC that was treated as a partnership for U.S. Managing Closely Held Corporations: A Legal Guidebook Refer to this guide for your closely held corporation questions.

This book discusses the important key roles and duties, as well as the legal principles governing them, and provides expert guidance and a thorough understanding of special concerns involved.

A closely held company is a publicly listed corporation that has a small number of concentrated shareholders. Trading in these shares is dominated. This case study has been adapted from PPC’s Tax Planning Guide—Closely Held Corporations, 26th Edition, by Albert L.

Grasso, R. Barry Johnson, Lewis A. Siegel, Richard Burris, Mary C. Danylak, James A. Keller, and Brian Martin, published by Thomson Tax & Accounting, Fort Worth, Texas, (; ).

A closely held corporation, by definition, is a private is, its shares are not traded publicly. In this case, if one of the shareholders wants to sell some or all of his/her shares, the sale must take place with one of the other existing shareholders, since the shares aren't listed on the public market and hence, no public sale of shares can take place.

See also the Business Tax Planning package, which includes the online version of this PPC planning guide. PPC's Tax Planning Guide — S Corporations explains the tax consequences of electing and maintaining S status, operating the S corporation, and terminating the S election.

It covers other tax issues, too, such as reorganizing the corporation, maintaining a QSub subsidiary, redeeming S. Practitioners are alerted to a number of fringe benefits, retirement planning opportunities, corporate business deductions, income splitting possibilities and estate planning techniques.

The program covers step-by-step tax procedures to form, operate, and dispose of a closely held corporation. Distinctions between S and C corporations are.

The starting point in determining whether gains are subject to the net investment income tax is Sec. (c)(1)(A)(iii), which taxes all net gains from the disposition of property other than property held in a trade or business (other than the trade or business of trading in financial instruments or.

Intotal wages paid to C-corporation officers was $ billion, and a majority of that compensation was paid to the owner-managers of small, closely held C-corporations (Nelson ).Author: Adam Looney. The Tax Implications of a Closely Held Corporation J Article, Asset Protection Planning One of the first steps in starting your own business is determining the type of business entity you intend to create.

Practitioners are alerted to often missed fringe benefits, retirement planning opportunities, corporate business deductions, income splitting possibilities and little known estate planning techniques.

The program covers step-by-step tax procedures to form, operate, and ultimately dispose of. It is especially important for closely-held corporations to be mindful of the tax implications. Closely held corporations, which are generally family-created businesses, have very few shareholders.

Such closely-held corporations generally collect investment income for the purpose of increasing profits and the owners and shareholders' net worth. Tax and financial planning for the closely held family business [Zwick, Gary A, Zwick, Gary A., Jurinski, James John] on *FREE* shipping on qualifying offers.

Tax and financial planning for the closely held family business3/5(1). Closely held C corps are subject to the personal holding company tax if 60% or more of their income is passive income, which they retain in the C Corp and do not distribute to their shareholders, though the personal holding company tax often can be avoided.

In addition, a C corp is subject to the accumulated earnings tax if it accumulates. of a closely held corporation except where a partnership is specifically referenced.

Further, the outline will primarily emphasize the use of the buy-sell agreement in a family owned business, although most of the factors and considerations involved are. Accessible to practitioners with varying degrees of experience in the subject, An Estate Planner's Guide to Buy-Sell Agreements for the Closely Held Business provides guidance for assisting owners of a closely held business in structuring arrangements to deal with the withdrawal of an owner from the ownership of the business.

The book explains. If the corporation has more than three years where the penalty tax applies, the S election is terminated and the corporation back to C corporation status.

((Section (d)(3).)) One planning scenario to avoid the penalty tax under Section would be to pay sufficient taxable dividends to avoid accumulated earnings and profits which would.Business owners are often concerned about how to withdraw cash from their closely-held C corporations at a minimum tax cost.

The simplest way to withdraw cash from the corporation is to distribute cash as a dividend. However, a dividend distribution is generally not tax efficient because it is taxable to the recipient to the extent of the corporation's "earnings and profits," but NOT.