S Corp. Shareholder Basis and Debt
November 24, 2014
on S Corp. Shareholder Basis and Debt
On July 23, 2014, the IRS issued final regulations (T.D. 9682) addressing the basis of indebtedness of S corporations to their shareholders. These final
What are the tax implications in California between an LLC and a Corporation?
February 7, 2014
on 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
Why Not An LLC?
October 15, 2013
on 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
Firms Puzzle Over Tax Riddle
March 1, 2013
Business owners can't change the tax code, but many of them say they might change the way their businesses are structured in order to pay less tax. Chris
Partnership or S Corp?
August 24, 2012
One concern is taxes; another is protecting assets. What's the best way to set up your business? Dear Norm, I am opening an art gallery and pottery
C or S Corporation Choice is Critical for Small Business
July 30, 2012
When an individual outgrew a proprietorship, a corporation used to be the norm. Today, limited liability companies (LLCs) are the new normal. See IRS:
S Corp tax planning
November 25, 2011
on S Corp tax planning
S Corporation An "S-Corporation" is a regular corporation that has between 1 and 100 shareholders and that passes-through net income or losses to
What Is Reasonable Compensation for S Corporation Shareholder-Employees?
May 18, 2010
The issue of what reasonable compensation for shareholder-employees of S corporations should be has been around for some time. Every time the IRS accepts a
68% of S Corp Tax Returns Have Errors says Government Accountability Office (GAO)
January 17, 2010
The Government Accountability Office today released Tax Gap: Actions Needed to Address Noncompliance with S Corporation Tax Rules (GAO-10-195): According to
S Corp vs LLC – Which form of entity is the right one for me?
May 20, 2009
We are often asked the question by new entrepreneurs and small business owners as to which is better for them to incorporate – S Corporation or a Limited