Business entity type and tax structure impact your organization’s finance and compliance requirements. Two popular choices are limited liability companies (LLCs) and S-corps. Although the arrangements ...

Many entrepreneurs with a Limited Liability Company (LLC) or C Corporation find S Corporation tax treatment an attractive option. An S Corporation is not a business entity in and of itself, but rather ...

With only a couple of months left in 2024, many business owners are preparing their year-end taxes. For some, this may include refining their financial structures, specifically working to minimize tax ...

A corporation is a separate legal entity that issues shares (stake in the company) to owners and protects their personal liability A partnership is owned by its partners and is easier to establish and ...

If you’re self-employed, one way to help avoid higher Social Security and Medicare taxes is to organize your business as an S-corporation. If you’re self-employed, you’ll usually have to pay higher ...

Choosing the right corporate structure is one of the first—and most important—decisions a business owner makes. In a recent conversation, Shawn McClelland and Alexa La Barbiera of Mandelbaum Barrett ...

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed. And I expect that occasionally you've encountered clients who made a change at one point but ...

In the last four years, content creation has undergone significant changes, with platforms such as Twitch, OnlyFans, Youtube, Instagram, and TikTok now serving as viable sources of income. Despite ...

When you’re starting a business, picking the right corporation type can feel like a big decision. It’s not just about the name; it’s about how you’ll handle taxes, raise money, and grow your company.

CPAs can help their clients determine what is a reasonable salary to pay shareholder employees (SEs) of S corporations, thus satisfying an IRS priority to collect proper amounts of employment taxes.

IRC section 1363(d) generally requires a C corporation that elects to become an S corporation to include a “Lifo recapture amount” in its gross income. The amount is the difference between the ...