Roman A. Basi is president of The Center for Financial, Legal, and Tax Planning Inc. and is an attorney, real estate broker, and title insurance agent. He advises The Center’s clientele on such matters as business law, succession, estate and tax planning, and real estate. For more information, visit www.taxplanning.com.
Long before President Trump was elected in surprise fashion in November, the House Ways and Means committee quietly put together a plan to modernize our tax system. It was published June 24, 2016, and is known as “A Better Way: Our Vision for a Confident America”, which is available online for review.
Quick! What is the value of your HVAC contracting business? Is it taxable income times three? Taxable income times five? Or is it the value of the assets minus debts? It is literally your million dollar question that you need to know.
