ThomsonReuters

NOVEMBER 12, 2021

To be aware of pitfalls such as international double taxation — being taxed for the same income in two different countries — they must plan strategically. This is an attempt to address double taxation, which discourages international trade.

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Ronika Khanna CPA,CA

JUNE 30, 2023

As an accountant and small business financial consultant, one of the most common areas of confusion and questions by small business corporation owners revolves around how to pay themselves and if one way is preferable to another. Do dividends result in double taxation? No, dividends do not result in double taxation.

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LyfeAccounting

MAY 12, 2021

C-Corporations experience double taxation. Double taxation means the C-Corporation pays taxes on its income and when you take money out, like a dividend, you, as the shareholder, are also taxed. This is called pass-through taxation. So as you can tell, an LLC offers you more flexibility in taxation.

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ThomsonReuters

OCTOBER 12, 2023

From understanding what foreign income is to navigating various tax forms and deductions, it is important for accountants to understand the ins and outs of U.S. taxation, potentially resulting in a reduced or zero U.S. citizens and residents who meet certain criteria. tax liability on that income. citizen or a U.S. taxable income.

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ThomsonReuters

NOVEMBER 2, 2021

As a corporate tax professional, you know the complexities of complying with business taxation requirements. These corporations are subject to federal corporate income taxation. The taxing of profits from the business is at both corporate and personal levels, potentially creating a double taxation situation.

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LyfeAccounting

JULY 11, 2021

So it basically helps you avoid double taxation, like you don’t pay taxes in the U.S. The post Foreign Tax Credit vs Foreign Earned Income Exclusion appeared first on Small Business Accounting & Finance Blog. and a foreign country on the same income. And that tax credit would be dollar for dollar and non-refundable.

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Going Concern

MAY 5, 2022

Alternate title: If You Are an Accounting Student, Expect to End Up In Audit When You Graduate. This isn’t an economic blog so I won’t bother getting into the specifics that I’m sure you’re intimately aware of anyway, but the point is that supply of just about everything is messed up.

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inDinero Tax Tips

JUNE 13, 2022

Individuals taking contributions from the C-Corp also have to pay taxes on that money, creating a double taxation issue. Naturally, tax rates vary, but the income tax liability doesn’t just stop there. While this isn’t one of the benefits of a C-Corp, that doesn’t mean that you should automatically avoid this structure.

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inDinero Tax Tips

JUNE 13, 2022

Individuals taking contributions from the C-Corp also have to pay taxes on that money, creating a double taxation issue. Check out these other blogs: Classifying Employees vs. Independent Contractors. Cash vs. Accrual Accounting. Best Enterprise Accounting Software. What is an S-Corp?

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ThomsonReuters

NOVEMBER 11, 2021

Transfer pricing is an accounting practice in which a particular division or subsidiary of a company charges a second division or subsidiary of the same company for goods or services. Documentation requirements by country appeared first on Tax & Accounting Blog Posts by Thomson Reuters. What is transfer pricing?

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LyfeAccounting

OCTOBER 16, 2020

Plus another con, is that you will experience double taxation. Pros: However the major pro of the S-Corp is that you avoid double taxation. Like C-Corps, the entity can be pretty complex and generally requires the help of an accountant. Step 5: Setup your business bank account. Step 6: Setup your accounting.

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LyfeAccounting

JUNE 11, 2021

For example, a C-Corporation might choose to be treated as an S-Corporation to avoid double taxation, because they are taxed on both – a business and individual level. By the way, if you’re looking for reliable accountants to handle your business payroll, then check out our outsourced accounting services here.

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LyfeAccounting

FEBRUARY 9, 2021

Tax Benefits #2: Pass-through Taxation. …get passed through to owners instead of being taxed at both the corporate level and at the shareholder level – essentially avoiding the double taxation that C-corporations are subject to. appeared first on Small Business Accounting & Finance Blog.

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ThomsonReuters

FEBRUARY 9, 2022

also enters into tax treaties with foreign countries for purposes of avoiding double taxation regarding social security programs. It is important for employers, employees, accounting firms, and third-party providers to have all the information and keep up to date with the ever-changing laws, rules, and regulations. In the U.S.,

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LyfeAccounting

OCTOBER 12, 2020

In addition to the legal aspect, taxation is a major reason why choosing the right entity is so important. Some even pay double taxation, meaning you’re taxed on the same money TWICE. Other similarities between the 2 are: Pass-through taxation. appeared first on Small Business Accounting & Finance Blog.

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ThomsonReuters

JANUARY 9, 2024

The following is a guide to the most common questions current and prospective business owners have about C corp taxation and strategies for lowering a C corp’s tax burden. One unique aspect of C corporations is that they are subject to “ double taxation.” What is “double taxation”?

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LyfeAccounting

OCTOBER 26, 2020

Another thing to know regarding taxation on rental properties is that you will be taxed for depreciation recapture. Here’s another look at the Long term Capital Gains tax rate for 2020: In addition, flippers must pay double FICA taxes (Social Security, Medicare, and Medicaid taxes) in addition to any state and local taxes.

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ThomsonReuters

MAY 15, 2024

Tax treaty analysis: Review relevant tax treaties between countries involved in the supply chain to optimize tax benefits and minimize potential double taxation. ONESOURCE Global Trade The post Global trade disruptions and their impact on corporate tax and trade appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

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ThomsonReuters

FEBRUARY 8, 2024

This is how LLCs avoid double taxation (i.e., taxation at both the federal and individual level), and it is the biggest difference between an LLC and a C corporation (C corp). Set up retirement accounts LLCs can set up their own retirement accounts and use them to either reduce or defer taxes.

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ThomsonReuters

OCTOBER 6, 2021

Each state gets to decide what matters most — your payroll, property, or sales — and in what ratio to account for them. Instead, they are subject to “pass-through taxation”; the individuals involved in the business pay state tax on their income from the business, while the business doesn’t pay separately.

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ThomsonReuters

JULY 7, 2022

As your clients evaluate investments held in their brokerage accounts, consider the tax impact of selling appreciated securities before the end of the year. For example, your client can pay two years’ worth of property taxes in a single calendar year, or double up on charitable giving every other year. 6—Consider a reverse mortgage.

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