by Bruce E. Bell | Apr 2, 2024 | Tax Corner, Bruce E. Bell
Question: I am contemplating giving to my daughter stock which has decreased in value below my purchase price. Is my daughter entitled to a tax loss if she sells the property? Answer: The unrealized loss existing at the time of the gift cannot be deducted by your...
by Bruce E. Bell | Feb 20, 2024 | Sales Rep Articles, Bruce E. Bell
For many small business owners, the key retirement plan decision is not what type of plan to adopt, but where the 401(k) plan funds should be invested. While 401(k) plans are the overwhelmingly popular plan of choice for employers, consider that alternative plan...
by Bruce E. Bell | Feb 1, 2024 | Tax Corner, Bruce E. Bell
Question: My widowed father recently died and failed to designate myself nor any of my siblings as beneficiaries of his IRA. Is there an opportunity to have these funds paid out over a prolonged period of time and avoid the...
by Bruce E. Bell | Dec 1, 2023 | Tax Corner, Bruce E. Bell
Question: I have a lake house which I occasionally rent to my corporation for business use. Am I still allowed to both exclude from tax the rental income I receive and have the corporation deduct the rent paid?...
by Bruce E. Bell | Nov 1, 2023 | Bruce E. Bell, Sales Rep Articles
The 2017 Tax Act introduced a new deduction for pass-through entities. Owners of S corporations, sole proprietorships, partnerships and limited liability companies treated as sole proprietorships are entitled to an income tax deduction of up to 20 percent of their...
