ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. The following guide offers numerous strategies and tips that owners of S corporations can use to lower their taxes, including deductions and credits.

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SingleTrackAccounting

MAY 13, 2021

We have been getting questions lately on how the new tax bill will affect small businesses. The main points the new tax bill proposes should not affect most small businesses and Biden has made it clear that he will only tax “the rich.” Corporate Tax Rate. It’s targeting Wall Street not Main Street.

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ThomsonReuters

SEPTEMBER 22, 2021

Tax compliance — and the reporting involved in maintaining that compliance — is one of the most stressful tasks a corporate tax team must complete. It should give teams complete control over company tax reporting, allowing them find the right level of data quickly. What is a tax data warehouse?

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Menzies

OCTOBER 6, 2023

For example, consider a company that has a corporation tax liability of £1 million for the 12-month period ending on 31 March 2024. The Full Expensing first year allowance will effectively reduce the company’s corporation tax liability by £250,000. Who Is Eligible to Claim the Allowance?

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Menzies

AUGUST 21, 2023

With the main rate of corporation tax now at 25%, companies will need to ensure they are maximising tax reliefs available to reduce the impact of this increase in rate. As always, the commercial intention of the business should take precedent over tax planning. Who Will be Eligible to Claim the Allowance?

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CPA Practice

SEPTEMBER 18, 2023

He began his career at Lybrand, Ross Brothers & Montgomery (which eventually became Coopers & Lybrand and now is Big Four firm PwC), before becoming national tax director at Main Lafrentz & Co. His book on the 1969 Tax Reform Act sold 50,000 copies.

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ThomsonReuters

FEBRUARY 8, 2024

File as an S corporation LLCs have the option of filing as an S corp. , the main benefit of which is it provides a mechanism for reducing self-employment taxes. If products are being sold across state lines or internationally, for example, a more robust tax software alternative such as ONESOURCE may be worth considering.

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