An S corporation, or sometimes referred to as S subchapter or S Corps, is a type of incorporated legal business entity. An S corporation has a similar business structure to a limited...
Posted by Pat Raskob on 07/17/2021
Although it is too late to elect Section 475 mark-to-market (MTM) for fiscal 2020, the opportunity for 2021 is now available. In this blog post, I'll cover the scenarios that make...
Posted by Unifirst Financial & Tax Consultants on 04/05/2021
When starting a business, one of the first decisions you'll face is what type of business to register for. The type of business you choose will affect your taxes, obligations,...
Posted by CORE PERFORMANCE on 03/26/2021
For small businesses that are growing, they can consider a C corporation for their business structure when it's time to expand fully. There are advantages and disadvantages that...
Posted by Tiffany Gaskin on 03/05/2021
Opening up the business of your choice is not a walk in the park. It is not enough that you have the necessary capital to invest in the type of shop or store that you have been planning...
Posted by Rosovich & Associates, Inc. on 12/03/2020
One of the more intricate provisions of the Tax Cuts and Jobs Act (TCJA) is the new limitation of business interest expenses. At first glance, this limitation seems simple, but the...
Posted by Taxes Made EZ Inc on 10/30/2020
There are many different expenses that small businesses are allowed to deduct on their annual tax returns. These deductions vary from business to business; however, the standard deductions...
Posted by Abundant Wealth Planning LLC on 09/28/2020
You can receive income in the form of money, goods, or services. This section deals with several types of taxable and non-taxable income. It includes discussions on employee salaries...
Posted by Carmen Garcia on 07/06/2021
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
Posted by Elliot Kravitz, ATP on 11/24/2020
