In the past, we’ve covered complex business transactions. We learned how they may obtain optimal tax treatment by utilizing particular sections of the tax code. We’ve discussed the numerous variations of tax-deferred reorganizations under Section 368, for instance, as well as the tax-deferred exchange of property under Section 1031. Both of these sections can generate huge benefits for businesses […]
In a previous post, we discussed some of the basic points of debt consolidation. We continue here with this same general theme. In this post we also examine debt, but we will do so from a different angle. As we mentioned before, debt is a significant force in American life. That’s true for a number of different reasons. […]
Few words in our language can inspire as much anxiety as the word “debt.” This applies doubly for Americans. That’s because so often we associate our general well-being with our financial condition. None of us wish to take on debt. In some cases, though, debt is simply an unavoidable part of trying to get ahead. Millennial […]
The federal income taxation of trusts is one of the more obscure topics in the realm of tax and finance. There aren’t many trust tax returns each year. So the lack of attention to this area of taxation is actually not too surprising. Nonetheless, trust income taxation is still a very important issue. That’s because trusts […]
As dedicated tax and business attorneys here at Mackay, Caswell & Callahan, we know that it’s important that we gain and maintain a firm command over certain financial concepts. Doing so allows us to best serve our clients. In many cases, this isn’t an easy task. That’s because many concepts in tax, business and finance are […]
Savvy investors are always looking for promising new investment opportunities. One of the key abilities of most successful investors is the ability to detect trends before they become trends. In other words, to pick up on promising opportunities before they becomes clear to the majority of investors. When you stop and think about it, this makes […]
In an earlier post, we discussed sin taxes in some detail. We identified specific examples of sin taxes. Those include taxes on items such as cigarettes, tobacco, alcohol taxes and candy. We also touched on the goals that sin taxes are meant to further. Sin taxes further two goals. The first is to raise additional revenue for the state. The second is […]
Real estate sales and purchases are common. Unfortunately, so are unpaid taxes. When the seller of real estate has a tax lien, a real estate closing can become exponentially more difficult. This is particularly true when net proceeds of sale are insufficient to pay the tax in full. When that happens, additional steps must be taken […]
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Mackay, you are a godsend. Thank you dearly for taking the time to go through in great detail options for our situation. You were patient, thorough and extremely helpful even after you knew we were unable at this time to pay for services. I wish other companies would follow your level of customer service.
I was in despair for years and now finally I have hope.
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