Nov. 2, 2012
'Goodwill' ownership has tax implications
If you run a small business - or a small law firm - you know that what belongs to you and what belongs to the company can seem to merge.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
If you run a small business - or a small law firm - you know that what belongs to you and what belongs to the company can seem to merge. The "company" may be a corporation, partnership, LLC or LLP. If it is a corporation, it may be a C or an S corporation. Most corporations are C corporations, but some corporations with 100 or fewer shareholders can elect S status to be taxed more like a partnership.
But whatever the type of ...
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