Lester Nosal, Author at Nosal Professional Group, P.C.

Possible tax consequences of guaranteeing a loan to your corporation

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults...

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Have employees who receive tips? Here are the tax implications

Many businesses in certain industries employ individuals who receive tips as part of their compensation. ..
Tax-saving ways to help pay for college — once your child starts attending

If you have a child or grandchild in college — congratulations! To help pay for ..
How the new SECURE 2.0 law may affect your business

If your small business has a retirement plan, and even if it doesn’t, you may ..
Tax-wise ways to save for college

If you’re a parent or grandparent with college-bound children, you may want to save to ..
Employers should be wary of ERC claims that are too good to be true

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept ..

Possible tax consequences of guaranteeing a loan to your corporation

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