Norris McLaughlin & Marcus, P.A.

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Business and Tax Planning

Mar 03, 2017

New Tax Filing Deadlines Affect Unsuspecting LLCs and Partnerships For 2017

Several tax bills passed by Congress late in 2015 changed the deadlines for filing federal income tax returns for partnerships and most limited liability companies, which are treated as partnerships for tax purposes. Other required filings might be affected as well.

The new rules generally take effect for tax years beginning after December 31, 2015, so that, for calendar year filers, the new deadline applies to 2016 tax returns, which are due in early 2017.» Read More

Mar 03, 2017

Here We Go – Fed Likely to Raise the Discount Rate at Month End

In remarks to The Executives Club in Chicago this morning, Fed Chair Janet Yellen signaled the next interest rate increase.  “At our meeting [of the Open Market Committee] later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate,” Ms.» Read More

Dec 16, 2014

(VIDEO) Introduction to Options for Disclosing Offshore Assets

Melinda Fellner Bramwit discusses one’s options for disclosing offshore assets in the first video of a six-week series. Stay tuned over the next few weeks to learn more about the offshore voluntary disclosure program and the streamlined filing process for residents and non-residents.

» Read More

Dec 04, 2014

Start-up Visas Lure Entrepreneurs to Spain

If United States business owners start closing up shop and relocating to Spain, don’t be too surprised.  In 2013, the country passed a law that granted a visa for foreign entrepreneurs as long as they had a government-vetted business plan, health insurance, and money to support themselves.  This along with lower costs, fewer competitors, and an abundance of talent that comes at a much cheaper price than the United States, is luring business owners overseas.  » Read More

Dec 03, 2014

How Business Structure Affects Taxes

There are many types of business structures (Sole Proprietorship, Partnership, Limited Liability Corporation, Cooperative, C Corporation, S Corporation) and each one affects taxes differently. If you want, or are planning on opening a business, the choice is very important, especially when it comes to taxes.  Check out the comprehensive research graphic below detailing the definition of each structure, the advantages and disadvantages, required tax forms, tax requirements, and more.» Read More

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