#TaxStrategy Archives | Hutchinson and Bloodgood LLP

Tax Planning

Deferring taxes on advance payments

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February 24, 2026

An advance payment is one received by a business before it provides whatever is being paid for. For federal income tax purposes, generally advance payments must be reported as taxable income in the year received. This treatment always applies if your business uses the cash method of accounting for tax purposes. But, if your business […]

#TaxDeferral, #TaxPlanning, #TaxStrategy

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Tax Planning

How will taxes affect your merger or acquisition?

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November 25, 2025

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Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success or failure. So if you’re thinking about a merger or acquisition, you need to consider the potential tax impact. Asset sale or stock sale? From a tax standpoint, a transaction can basically be structured […]

#BusinessSale, #MergersAndAcquisitions, #TaxStrategy

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Tax Planning

Can you turn business losses into tax relief?

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May 12, 2025

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Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be used to reduce taxable income in later years. Who qualifies? The net operating loss (NOL) deduction levels the playing field between businesses with steady income and those with income that […]

#BusinessTaxPlanning, #NOLDeduction, #TaxStrategy

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