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McBrayer Blogs

Showing 4 posts tagged partnerships.

Choice of entity is important for budding businesses

Choosing a business form with which to organize a growing business is not always an easier matter, especially for those with little experience in business. Selecting a business entity form is important, though, as it can help position a business to increase growth by offering certain protections, particularly in the areas of liability and taxes, as well as trademarks and licenses. More >

Partnership considerations when converting to corporate status

Due to various law changes, many partnerships are reevaluating their legal status. Often the choice has been to convert to an S corporation. However, at least one commentator suggests that converting to a C corporation may prove to be a better option from the perspective of tax considerations. More >

Is US Tax Policy Pitting Corporate Giants Against Small Business?

The federal government shutdown may have put federal tax reform efforts on hold officially, although lobbying no doubt continues behind the scenes. Unfortunately, lack of official information makes longer-term business and corporate tax planning a bit more challenging. More >

IRS Work Group to Explore Definition of Real Estate for Taxation

In light of revelations such as Apple's ability to avoid many federal corporate income taxes, the IRS and the Treasury Department may be under pressure to reconsider some tax rules in order to prevent an erosion of the corporate tax base. Recently, the IRS notified information storage company Iron Mountain that it is "tentatively adverse" to its characterization of its racking storage units as real estate. Iron Mountain is seeking to convert itself from a corporation into a Real Estate Investment Trust, or REIT, to minimize its business taxation. More >

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