Accumulated Earnings and Profits are the profits earned by a business after paying dividends to shareholders. It measures a company's ability to make cash distributions. E&P...
Posted by Telesky Financial Services on 02/27/2020
The Internal Revenue Service (IRS) expects that all income be reported on a tax return and, if not, can result in fines and sometimes penalties. However, most fines can be suspended...
Posted by Larry Kenneth Hurt on 02/25/2020
The details on how to turn your small business from a C Corp to an LLC vary depending on several factors. While we may not be able to see all of the possible scenarios, here are some...
Posted by Larry Kenneth Hurt on 02/25/2020
In 2015, Congress adopted a centralized audit regime for the partnership (the partnership audit rules) that assesses and collects federal taxes due to a partnership-wide audit entity....
Posted by Elliot Kravitz, ATP on 02/25/2020
What is the TCJA charge against base erosion and anti-abuse tax, and how does it work?Base-Erosion and Anti-Abuse Tax (BEAT), a new tax under the Tax Cuts and Job Acts (TCJA), limits...
Posted by Elliot Kravitz, ATP on 02/25/2020
The tax system of the United States is a pay-as-you-go system. Tax payments are usually required as you earn income. If you don’t pay your tax on time, you will be charged with...
Posted by Advanced Accounting & Tax Planning on 02/25/2020
The American Opportunity Credit and the Lifetime Learning Credit are currently the two major education credits provided by the government to help students lessen the cost of higher...
Posted by Advanced Accounting & Tax Planning on 02/25/2020
Owners of small businesses want to change their C corporation to a limited liability company or LLC to be able to avoid double taxation while keeping personal assets safe from business...
Posted by The TaxAdvocate Group, LLC on 02/25/2020
The IRS estimated that in a year there is only a small part of tax crime convictions and these correspond to not more than one percent of taxpayers. However, it is also estimated by...
Posted by The TaxAdvocate Group, LLC on 02/25/2020
