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Irving Attorney, Irving Business Attorney, Irving Tax Attorney

Posted by NetOffer in Dallas-Fort Worth-Arlington, TX on May 13, 2010

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Irving Attorney: How is my LLC treated for Federal Tax purposes? May 10, 2010

Irving Attorney James Atwood states that the Federal tax treatment of an LLC can significantly impact the Federal taxes paid by its owners. Federal tax law provides many options for the tax treatment of LLC's. An LLC is a legal entity formed under state law. Once formed, owners (also called "members") have many options for how their LLC's are taxed under Federal tax law. What are some of these options? The options include treating an LLC as a: Sole Proprietorship Partnership S Corporation C Corporation Generally, LLC members have the option to choose among the alternatives. In my experience, LLC owners most commonly elect to treat their LLC's as either Sole Proprietorships, Partnerships, or S Corporations. [more info...]

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Irving Attorney Explains What Happens To Bank and Brokerage Accounts After Death April 18, 2010

Irving Attorneyexplains what happens to bank and brokerage accounts after death. Proper planning will make transferring these account a simple process for those left behind. The first step is to determine what type of account you have. You can determine what type of account you have by contacting your bank or reviewing your signature card. Each bank will have specific terms associated with each account type. There are some industry standards but you should contact each financial institution to determine the terms of the accounts you own. Single Party Account If you have a single party account which means only one person is named on the account, then you have two possible outcomes. First, if the account has a pay on death benef [more info...]
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Irving Attorney, Irving Business Attorney, Irving Tax Attorney