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The Thomas Howell Ferguson Blog

Divorcing business owners should pay attention to the tax consequences

Undergoing a divorce can be stressful. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and in many cases, your marital property will include all or part of it. Transferring property tax-free In general, you can divide most assets, including […]

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Retirement saving options for your small business: Keep it simple

Planning your retirement savings options for your small business is much more simpler than you think. There are a couple of options to consider if you’re thinking about setting up a retirement plan for yourself and your employees. Despite concerns about the financial commitment and administrative burdens involved. Let’s take a look at a “simplified […]

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Inflation means you and your employees can save more for retirement in 2023

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. The amounts increased more than they have in recent years due […]

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Separating your business from its real estate

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be outweighed by the tax, liability and estate planning advantages of separating real estate ownership from the business. Tax […]

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