Question: I am buying a minority interest in a three member limited liability company which owns appreciated real estate. If the property is sold, will I be taxed on the appreciation that occurred prior to my purchase?
Question: I am recently divorced in Illinois and wondering how my estate plan documents need to be modified as I no longer wish to provide for my spouse.
Question: I own a 50% interest in a corporation and have concerns about what might happen if I become disabled. Can I continue to receive a salary from my corporation if I become disabled?
Question: I would like to reduce my taxable estate but approximately two-thirds of my assets are held in a traditional IRA and the balance is held in cash. Is there any planning I can undertake?
Question: I operate a business as a limited liability company which I am considering converting to an S corporation given the recent increase in the Social Security wage base. I am not certain I want to forego the liability protection I enjoy from limited liability company status but do not want to pay more payroll taxes than I am already paying. Is there a preferable alternative?
Question: I am approaching age 70 ½ and wish to postpone distributions from my company’s 401(k) plan or, alternatively, minimize my required distributions. What, if anything, can I do?
Question: I plan to give stock of my corporation to my child. Since my child is an adult, is there any reason I should not make an outright gift?
Question: I want to issue shares of stock of my corporation to a loyal employee but my accountant says it would be too expensive from a tax perspective. Can you explain?
Question: Any suggestions for deferring taxes on the sale of my artwork which has greatly appreciated in value?