What is a consolidated tax return?A consolidated tax return is a corporation tax return for a group of affiliates that choose to report their combined tax payable in one tax return....
Posted by Dennis Jao on 12/18/2021
There are a series of deductions available for all qualified small business owners. It can go a long way to reduce their tax burden even though most businesses are not aware, let alone...
Posted by Tiffany Gaskin on 12/18/2021
Those who cannot withhold federal taxes from each paycheck must pay taxes quarterly.United States income tax operates on a pay-as-you-go system, in which the federal government collects...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/11/2021
We will present several examples comparing scenarios of non-S Corps, such as sole proprietorships, single-member (one-person) limited liability companies (disregarded entity), and...
Posted by BEST FINANCIAL GROUP LTD on 11/04/2021
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 last thing any business owner wants is to be audited by Uncle Sam. Truthfully, the probability of an audit is generally low though some red flags can trigger a business audit....
Posted by Rosovich & Associates, Inc. on 05/29/2021
The significant difference between S corps and partnership is the protection limited liability that S corps business owners enjoy. Partnerships, however, do not have this protection,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/27/2021
Choosing a business structure requires a calculation that balances tax and legal benefits with costs and time to set up. It is one of the most critical decisions you will make when...
Posted by Taxes Made EZ Inc on 02/12/2021
Congress passed major tax reform in the Tax Cuts, and Jobs Act passed on December 22, 2017. This legislation, which affects individuals and businesses, is known as the TCJA or Reform...
Posted by BEST FINANCIAL GROUP LTD on 11/17/2020
