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S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help

MyIRSRelief

S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help S Corporations , often referred to as S Corps, are a popular business structure in the United States, particularly among small to medium-sized businesses. However, navigating the tax landscape for S Corps can be complex.

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LLCs vs. S Corporations vs. C Corporations: Choosing the Right Entity for Your Business

Withum

Cons Restrictions: S Corporations have limits on ownershipno more than 100 shareholders, all of whom must be U.S. Rigid Formalities: Must adhere to strict corporate governance rules, including maintaining a board of directors and holding annual meetings. citizens or residents.

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Tax Fraud Blotter: Sick excuses

Accounting Today

EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns. All rights reserved. He lied to the court, to the U.S.

Tax
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Year-End Tax Strategies for Businesses

Withum

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. years) to a shorter depreciable tax life (e.g., 3, 5, 7, 15, or 20 years).

Tax
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Why Structure Your Business as a Partnership? Exploring the Tax Benefits of Partnerships

CTP

Partnerships are pass-through entities, so they are not subject to corporate income tax. Instead, they pass the profits onto the owners who then pay personal income tax based on their tax bracketsa setup that can provide significant tax advantages to these owners. What makes partnerships distinctive?

Tax
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In the blogs: Answer unclear; ask again later

Accounting Today

The Tax Times ( [link] ): What reform means for GILTI and U.S. corporate taxpayers. Parametric ( [link] ): And the bills impact on mid-year tax planning. Taxable Talk ( [link] ): In this years World Series of Poker, zero is the best tax number. All rights reserved. Virginia – U.S.

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Tax Fraud Blotter: Negative waves

Accounting Today

Whitman also has not filed an individual income tax return since 1997 and has made no tax payments since 2000. In 2012, the IRS assessed nearly $800,000 in taxes against Whitman for 2002 through 2009 and began trying to collect. All rights reserved. Herman Estes Jr. In March 2023, Estes made a $1.3 Sentencing is Sept.

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