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Tax Considerations When Closing Your Corporation or Pass-Through Entity

Tax Considerations When Closing Your Corporation or Pass-Through Entity

Jun 22, 2021 | Blog, Closely Held Businesses, Exit Planning, Tax

Economic fallout from the COVID-19 pandemic has caused some small businesses to permanently close. No owner plans to close when entering into business, so the tax implications may not be front of mind when it comes time to shut operations down. The following provides...
The Tax Implications of Closing a Schedule C Business

The Tax Implications of Closing a Schedule C Business

Jun 21, 2021 | Blog, Closely Held Businesses, Exit Planning, Tax

Closing a business has important federal income tax implications that owners should understand. The following provides tax information owners of sole proprietorships and single-member (one-owner) limited liability companies (SMLLCs) need to know. Reporting Gains,...

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