For many professionals such as accountants, dentists, veterinarians, physicians and surgeons, the professional corporation entity offers significant benefits as an organizational structure. Generally, a professional corporation can be established by a group of individuals in the same profession and can provide each professional with personal liability protection from the malpractice of his or...Read More
As 2007 comes to a close, it’s important to review what changes may affect retirement plans or individual retirement planning. The Pension Protection Act of 2006 (“PPA”) provided several tools to ease the tax burden on taxpayers. The following are some of the highlights.
One provision allows for taxpayers at least 70 ½ years old to make charitable donations of up to $100,000...Read More