Blogs: LLC and Business Formation

Motivational October 9, 2006

What makes an Exceptional CEO?

I came across a fascinating website the other day calledTheCEOProject, which released a report last July that outlines the factors they discovered which makes exceptional CEO’s exceptional.  For the past 15 years, they have studied and worked with about 700 CEOs of fast growing, mid-sized companies with revenues between $15 million and $1.2 billion.  That […]


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Taxes September 26, 2005

A Shark ate my Tax Return. Really.

I heard the story first from one of my CPA’s, who reported that my company’s recent quarterly tax return – and sizeable check – might be a bit damp.  The IRS says a truck overturned on the San Mateo bridge over the San Francisco Bay and about 30,000 quarterly estimated tax payments – including one […]


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Taxes August 30, 2005

Are Officer Salaries Mandatory?

I’ve been involved in a lengthy discussion/debate with several CPA’s over the last week or so on the question of proper compensation for corporate officers and directors.  What had been presented to me as fact was the position that the IRS requires all corporate officers to take a salary.  I disagreed, and demanded the tax […]


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Taxes March 10, 2005

LLC Tax Basis

For an LLC with flow-through taxation, basis is a very important consideration.  Members of an LLC can deduct certain losses of an LLC allocated to them to the extent of their tax basis in their LLC interest (subject to a few limitations).  A member’s tax basis can never be less than zero, even though it […]


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Taxes March 4, 2005

Charitable Giving Statistics

Taxpayers with Adjusted Gross Income between $15,000 to $30,000 averaged charitable contributions of $1,890. Taxpayers with AGI between $30,000 and $50,000 averaged $2,006 in charitable contributions. Taxpayers with AGI between $50,000 and $100,000 averaged $2,530 in charitable contributions. Taxpayers with AGI between $100,000 and $200,000 averaged $3,875 in charitable contributions. Taxpayers with AGI over $200,000 […]


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