S corporations or S corps is one of the two most popular forms of business legal structures in the state of Illinois, the other being the Illinois LLC, and for a good reason. And that reason is the fact that an Illinois S corp is considered to be a “pass-through” entity, wherein items of income … Read more
If you are into the real estate business, particularly in renting a property, it is vital that you know what 1031 exchange means. There are some, who have not heard of this exchange. The IRS created this in the year 1990. The purpose of this exchange is to help real estate investors. The benefit one … Read more
While everybody appreciates the legislative intention behind enacting special legislations like RDDB Act, 1993 and SARFAESI Act, 2002, when it comes to the sale of mortgaged property through auction, many interesting points would emerge for consideration. If it is a sale of mortgaged property pursuant to the Recovery Certificate issued by the Debt Recovery Tribunal … Read more
The New Year is here and yes it is time to look at your assets and see what you can do to exploit the favourable taxation of capital assets. There is little time to plan and to execute tax planning strategies before the 5th April so review your assets and act now. Planning: I … Read more
While selling a house you might have undergone frustration and dissatisfaction as it is difficult to find a buyer for the instant sale of your property. Today with availability of various home buying company and dealers you are relieved from all the intricate procedures of finding a buyer, making an evaluation of your property, exchange … Read more