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Don’t Wait Until December – Start Your Year End Financial Cleanup Now
Year-end may still feel far away, but the final months of the year disappear quickly. Reviewing your financial records now can make year-end reporting and tax preparation smoother while giving you time to correct problems before December 31. Here are the most...
Trust Taxation Basics: Understanding Schedule K-1s – Part 3
In Part 2 of the Trust Taxation series, we discussed how Distributable Net Income, or DNI, determines how much income can be shifted from a trust to its beneficiaries. While DNI is the calculation that controls the trust tax result, beneficiaries see the result of...
Partnership Taxation and the Importance of a Partnership Agreement
Choosing the legal form of a business is one of the most important decisions an owner will make. Options include operating as an LLC, a corporation, a partnership, or a sole proprietorship. Legal, operational, and liability considerations all play a role, but tax...
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