by Bruce E. Bell | Jul 2, 2018 | Bruce E. Bell, Tax Corner
Question: I am one of several members in a limited liability company treated as a partnership for tax purposes which is being sold. If we sell our membership interests to the buyer, can the gain be reported as capital gain?Answer: Business owners who...
by Bruce E. Bell | Jun 1, 2018 | Bruce E. Bell, Tax Corner
Question: My father died holding all of his assets in a revocable trust. Must the trust’s tax returns be filed using a calendar year-end?Answer: Generally speaking, revocable trusts are not separate taxpayers during the lifetime of the...
by Bruce E. Bell | May 1, 2018 | Tax Corner
Question: I have been pondering converting my traditional IRA to a Roth IRA for many years and question whether the new tax law makes a conversion more or less beneficial?Answer: Roth IRAs have been part of...
by Bruce E. Bell | Apr 2, 2018 | Bruce E. Bell, Tax Corner
Question: My spouse and I are about to divorce. Can I deduct any alimony payments I make to my spouse?Answer: The new tax law modifies the treatment of alimony payments to former spouses pursuant to divorce and separation instruments. Alimony...
by Bruce E. Bell | Mar 1, 2018 | Bruce E. Bell, Tax Corner
Question: I have historically itemized my deductions on my personal income tax returns, a meaningful portion of which consist of charitable contributions. What if anything can I do now that my charitable contributions will not provide any tax benefit to...
