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Special tax benefits are afforded to investors in certain qualified small issue bonds, qualified mortgage bonds, and mortgage credit certificate programs.

Property transferred under your will.

State security laws that govern the right to sell interests in a security, among other matters. Any time you are forming an LLC where more than a handful of active and knowledgeable investors are involved, always consult with a securities attorney to be certain you are not subject to any blue-sky, federal, or other security…

Contractual arrangements governing the transfer of ownership interests (stock or partnership interests) in closely held businesses. These often rely on insurance to provide the necessary funds.

A regular corporation that pays tax directly to the IRS. A C corporation can be contrasted with an S corporation which generally doesn’t pay tax, instead its shareholders (owners) pay tax on their share of the S corporations income.

Anything you own of a permanent nature that can be used to produce income or that has a value, such as a building, house, furniture, and so forth.

A payment to buy, build, improve or fix an asset (property that you own) which will last for more than one year. Capital expenditures generally can’t be deducted in the year paid. Instead, they must usually be added to your investment (adjusted basis) in the asset, then be written off (depreciated) over a longer period….

The gain from selling a capital asset that is held for more than a specified time. The gain is usually the amount realized (net sales price) less your investment (adjusted tax basis) in the property. Capital gains receive favorable tax treatment in that the maximum rate is set at 10 to 28 percent when the…

When expenses that are not deductible are added to your investment (adjusted basis) in the property, they are capitalized.

A method of determining when income must be reported and when expenses can be deducted. It is used by most individual taxpayers. Certain partnerships, corporations, and other taxpayers may not be able to use the cash method. Under the cash method, income is generally reported in the year you receive the money, and expenses are…