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How are C corporations taxed? Tips on how to avoid double taxation and reduce taxes

ThomsonReuters

Jump to: How are C corporations taxed? When are C corp taxes due? How do C corps file taxes? How can C corporations reduce their taxes? But what does that mean for your taxes? How are C corporations taxed? How do C corps file taxes? Corporation Income Tax Return.

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What is a provision for income tax and how do you calculate it?

ThomsonReuters

What is a tax provision? Simply put, a tax provision is the estimated amount of income tax that a company is legally expected to pay to the IRS for the current year. A tax provision is just one type of provision that corporate finance departments set aside to cover a probable future expense.

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Monthly State Sales and Use Tax Update

TaxConnex

The growth rate for all Tennessee taxes in August was 22.11 Sales tax revenues and state corporate tax receipts (franchise and excise taxes) both posted substantial growth. In Georgia , tax collections were up 12.7% The gross sales tax take finished 15.9% in August year over year.

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Gross vs. Net Income: What Employers Should Know For Tax Time

inDinero Tax Tips

Sole proprietorships, partnerships, limited liability companies (LLCs), and S-corporations are pass-through entities; owners report their income as personal income on their tax returns and pay regular income tax. It’s uncommon, but LLCs can also elect to be taxed as a C-corporation.

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Accounting Tips for Start up Freelancers

Cheap Accounting

In the past the attraction of a limited company had been enhanced due to lower taxes on the profits extracted from the business. With the introduction of the Dividend Tax and the increases in Corporation Tax, this advantage has been eroded for many unless you have larger profits (at least over £30,000).

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The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals

ThomsonReuters

Businesses in 2020 also navigated new regulations affecting foreign tax credits, foreign-derived intangible income (FDII), global intangible low-taxed income (GILTI), consolidated groups’ NOLs, meal and entertainment expenses, and bonus depreciation.

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HMRC Business Enquiry/ HMRC Corporate Enquiry

Accounting Insight

A large business tax enquiry / corporate tax enquiry is carried out by HMRC’s ‘Large Business’ directorate and ‘Wealthy & Mid-sized Business Compliance’ directorate. Remember, a corporate tax enquiry is not routine, despite what HMRC may suggest. What is a business tax enquiry / hmrc corporate enquiry ?