Reasonable Compensation

Reasonable Compensation

What are the tax implications in California between an LLC and a Corporation?

It’s probably best to understand the difference between LLC, S Corporation and C Corporation first before we can sort out the tax implications between LLC [...]

4 IRS Audit Red Flags

Short on personnel and funding, the IRS audits less than 1% of all individual tax returns annually. We expect the audit rate to fall even lower as resources [...]

Small Business Owners’ January 2014 Tax Checklist

It’s the new year, which means it’s out with the old and in with the new, and this philosophy should come into play when it comes to your tax record [...]

With Tax Break Set To Expire, Partnerships Should Consider Converting To C Corporations Before Year End

Subchapter C corporations are like pit bulls or prostate exams — they carry quite the stigma,  but they’re not nearly as bad as they’re made out to [...]

IRS announces automation of taxpayer resources, start of business filing season

The IRS announced on its website that, beginning in 2014, it will stop providing a number of taxpayer assistance services in person or over the phone and will [...]

No fear of the unknown this year: What’s in store for year-end tax planning

Finally. For once in recent history we can talk about tax certainty as we head into year-end tax planning. The American Taxpayer Relief Act, passed in January, [...]

Final Net Investment Income Regulations: Losses From The Sale Of Property Become Much More Valuable

Let’s continue along our multiple-part journey through the newly-released FINAL net investment income tax regulations, which by the time it’s all said and [...]

The Definitive Questions And Answers On The New Net Investment Income Tax

On March 23, 2010, President Obama signed into law the Patient Protection and Affordable Care Act, or as it’s affectionately or derisively known, depending [...]

Why Not An LLC?

Limited liability companies are increasingly the entity of choice for new businesses of fewer than 50 employees.  Appropriately so, for LLCs offer great [...]

Companies Push for Tax Break on Foreign Cash

Some of the nation’s largest corporations have amassed vast profits outside the country and are pressing Congress and the Obama administration for a tax [...]