tax implications Archives - BeachFleischman CPAs

Buying and selling mutual fund shares: Avoid these tax pitfalls

Planning to buy or sell mutual fund shares? Here are some tax hazards to avoid.

The tax implications of employer-provided life insurance

August 4, 2020 October 12, 2020 Tax Department Tax Bites life insurance, phantom income, tax implications

Employer-provided group term life insurance can be a nice employee benefit. But depending on the amount of coverage, it may cause an unwanted tax result. Here’s why.

Holiday parties and gifts can help show your appreciation and provide tax breaks

December 4, 2019 Tax Department Tax Bites client gifts, customer gifts, employee gifts, holiday parties, tax implications

Are you giving holiday gifts to employees or customers? Or is your business throwing a holiday party? Make sure you understand the tax implications.

Do you know the tax implications of your C corp.’s buy-sell agreement?

April 26, 2017 April 25, 2017 Tax Department Tax Bites basis, buy-sell agreement, C Corporation tax consequences, cross-purchase agreement, tax implications, transfer of ownership interests

Private companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are important to understand. Buy-sell basics A buy-sell agreement sets up parameters for the transfer of[ … ]

Watch out for tax consequences when hiring telecommuters outside your state

June 15, 2015 Tax Department News and Events, Tax Bites double taxation, tax consequences, tax implications, telecommute, telecommuters

If you allow employees to telecommute, be sure to consider the potential tax implications. Hiring someone in another state, for example, might create sufficient nexus to expose your company to that state’s income, sales and use, franchise, withholding, or unemployment taxes. And the employee might be subject to double taxation if both states attempt to[ … ]