Tax Implications of Disposing of Business Property

It is no surprise that many pond professionals fail to understand the tax ramifications of disposing of business property. Under our current rules, which are often confusing and complex, there are numerous ways to dispose of business assets: selling them, scrapping them, exchanging them for another business asset, or even giving them away, just to …

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Pond Business | 2015 Tax Season Coming

Thanks to the Supreme Court’s late-June decision in King v. Burwell, many garden pond professionals will escape at least some of the sharply escalating costs of the Affordable Care Act (ACA). That Court decision should, however, be a wake-up call for all retailers, distributors, builders, installers and manufacturers to get their ducks in a row …

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Basic Business Entities Explained

Quickly learn about the different business entities that are available to the businesses in the pond industry. You have heard them before – Sole Proprietor, Partnership, LLC, and Corporation. There are tax benefits/detriments to each of them. What will fit your business best? A 25-year veteran will wade through each of the choices and help you confirm your current status, or consider a change.

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