Tax
Why You Should Consider Putting Your LLC into a Trust
The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. By placing LLC membership interests in a trust, business owners can combine the two types…
Read MoreDo I Have to Pay Taxes on an Inheritance in Utah?
Below you’ll find our outline of estate tax and inheritance tax considerations in Utah and how they may relate to you. We’ve also highlighted other concerns with inherited assets that you may encounter.
Read More1031 Exchanges – When Do They Really Apply?
Cory Lee – JD, LLM It is likely that you have heard of a 1031 Exchange, whether it was part of an investment opportunity or when you sold you personal home, it seems that everyone has at the very least heard of 1031 Exchanges. But what exactly is a 1031 Exchange and when can they…
Read MoreAsk Tom: What Law Changes Require me to Update my Estate Plan?
Estate planning is an ongoing process that needs to evolve with you as your family and circumstances change. Some things that are likely under your control are: the growth of your estate, getting married or starting a business, or choosing to relocate to another state. Other situations which are not in your control may include:…
Read MoreIn the Case of a Tax Controversy, Should You Turn to a CPA or a Tax Attorney?
Have you ever received notice from the IRS or the State Tax Commission that there was a problem with one or multiple of your tax returns? If so, who do you turn to in that situation? When it comes to taxes and tax issues many people first think to go to their accountant, however, in…
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