2021 Virginia Passthrough Entity Tax

2021 Virginia Passthrough Entity Tax

Summary After a long delay, the Virginia Department of Taxation can now process 2021 passthrough entity tax (PTET) returns. Electing passthrough entities (PTE) must file 2021 Form 502PTET through Virginia’s Business Online System by September 16, 2024 Those companies...
Help Wanted: Hiring Your Kids to Work for Your Small Business

Help Wanted: Hiring Your Kids to Work for Your Small Business

If you own a small business, you might consider hiring your kids to work during their time off from school. In addition to teaching your children some financial responsibility and business sense, there are some tax advantages to factor into your decision. Here are the...
Remember to Include Foreign Assets In Your Estate Plan

Remember to Include Foreign Assets In Your Estate Plan

It is common for people to assume that foreign assets are not relevant to their “U.S.” estate plans. However, foreign — indeed, all of your assets — should be included in your estate plan. Financial experts can structure ownership of your foreign assets according to...
The Pros and Cons of Neutral Valuations

The Pros and Cons of Neutral Valuations

One recent trend in business valuations is a move toward neutral valuations. Hired jointly by both parties, a neutral valuator will investigate the relevant facts, perform a business valuation, and produce a neutral appraisal report with no bias toward either party....