The type of business you own determines what your tax returns will be like to a large extent, whether your taxes will significantly be reduced. Let’s start by defining what LLCs...
Posted by KLSM CPA Firm PLLC on 01/01/2022
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
The IRS issued guidelines on September 1 (Notification 2020-69) that provide an exemption for S Corporation with AE&P (accumulated earnings and profits) after a C corporation...
Posted by BEST FINANCIAL GROUP LTD on 11/30/2020
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
One of the many questions I get as a tax and financial advisor is what business structure to choose when you are starting a business. Liability notwithstanding, a big determining factor...
Posted by Terrance Hutchins, CLU, CFP, RICP on 01/21/2020
Dividends are a type of investment income that is stock generated, and also from mutual funds containing stocks. They stand as a taxable share of corporate profits that are paid out...
Posted by LLOYD J CAZES CPA on 07/25/2019
There is no hard-and-fast method for differentiating between a hobby and a real business based on a tax return. There is no way to tell a business from a hobby except by the use of...
Posted by Elliot Kravitz, ATP on 07/25/2019
A lot of people are still very confused and have little or no knowledge about S-Corporation. So it has become imperative to enlighten these people and set the record straight about...
Posted by Advantage Tax Services, Inc. on 02/25/2019
Many times when you are going to establish a new business, there is confusion. The confusion is nothing but about the type of business which you should get indulged in. There are different...
Posted by Advantage Tax Service on 05/22/2018
