Question: I am unwinding the cross-purchase buy/sell agreement I have in place with the other 50% owner of my corporation. What are the tax consequences when we receive back from each other the policies of insurance on our lives?
Protecting Business Real Estate from Creditors and Taxes
754 Basis Adjustment Upon Purchase of Membership Interest
Addressing Estate Plan Needs Upon Divorce
Salary Continuation Plans For Disabled Shareholders
Roth IRA Conversions Provide Estate Tax Benefits
Saving Payroll Taxes in Limited Liability Company Structure
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?