Lottery Winners Lose

Lottery Winners Lose!

 

The 11th U.S. Circuit Court of Appeals in Atlanta ruled Dec. 19 that Bertucci and the others around the country who sold their winnings to investment companies must pay regular income taxes on the lump sum they received rather than the lowe capital gains rate.

New Jersey Ends Death Penalty

New Jersey Ends Death Penalty!

 

The State of New Jersey Assembly and Senate approved the abolition of the Death Penalty on December 13, 2007. The Governor promises to sign it into law. It’s about time!

Congress Fails to Repeal AMT

Congress Fails to Repeal AMT

The Alternative Minimum Tax (AMT) which shocks many middle income taxpayers with big tax bills, has not yet been repealed by Congress. Because the AMT was enacted in 1969 and has not been indexed for inflation, more taxpayers have to pay increased taxes each year.

Some items that affect the AMT include:
Capital Gains
Children Under 18 subject to the “Kiddie Tax”
Gains on S Corporations conversions
Options
Tax-Free Income.

If you have any questions about this, call now while some planning can be done!

Ronald J. Cappuccio, J.D., LL.M.(Tax)
856 665-2121

Plan Now to Lower Taxes

Plan Now to Lower Taxes!

 

How much income and expenses do you have? This is the start of the information needed for year-end tax planning.

 

If your income is too high for the year you will need to increase expenses. For example, you can pay expenses early, buy equipment, make an extra contribution to an employee benefit plan, pay bonuses early and accellerate rents and other payments due in January and February.

 

You can also control income. To boost income, you might want to acccelerate the collection of receivables. Or, if your income is too high, simply avoid billing in December to push receivables into the next tax year.

 

Please see http://www.taxesq.com or call Ronald J. Cappuccio, J.D., LL.M. (Tax) at (856) 665-2121.

LLC’s are the predominate form of Business!

Forming a business as a Limited Liability Company has all the liability limitation advantages of a corporation and all of the tax advantages of a proprietorship or partnership. Only in rare circumstances should a new business be started as a sole proprietorship, partnership or S corporation. The LLC serves most new and growing business well.

Click Here for the full article

Welcome to My Blog

LLCLawyer.com is my website designed to provide information on forming, running and merging Limited Liability Companies. I will address the business, tax and legal issues surrounding LLCs. Also see my main website, http://www.taxesq.com

 Thank you!

 Ron Cappuccio

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