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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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Corporate Tax Leaders’ Views on GenAI Have Flipped, EY Survey Finds

CPA Practice

A new survey from Big Four firm EY reveals that CFOs’ and corporate tax leaders’ stances on generative artificial intelligence have shifted over the past year—from mostly negative to mostly positive. Smarter chatbots are also helping payroll departments provide better, more customized answers to worker queries.

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Intuit debuts AI agents for QuickBooks

Accounting Today

In the months ahead, Intuit plans to debut more AI agents for larger growing businesses to tackle more complex tasks: Payroll Agent: Proactively collects time and attendance data from employees and runs payroll when needed. All rights reserved.

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Optimism declines among accountants

Accounting Today

The shift signifies growing apprehension across Main Street accounting firms serving as advisors on tax, payroll and compliance decisions amid a backdrop of historic tariff actions, continued inflation and unpredictable tax and trade policies. All rights reserved.

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

Withum

Lower Self-Employment Taxes: Shareholders only pay self-employment taxes on their salaries, not on distributions. Payroll Requirements: Shareholders who work for the business must pay themselves a reasonable salary. Cons Restrictions: S Corporations have limits on ownershipno more than 100 shareholders, all of whom must be U.S.

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Mississippi, Texas storm victims get tax relief

Accounting Today

It also applies to 2024 contributions to IRAs and health savings accounts for eligible taxpayers and to estimated tax payments normally due on April 15, June 16 and Sept. Penalties on payroll and excise tax deposits due on or after March 14 and before April 10 in Mississippi will be abated as long as the tax deposits were made by April 10.

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CAS accounting and the next generation of accountants

Accounting Today

By Paige Hagy June 5 Accounting Small business wage growth slowed in May Hourly earnings growth for small business employees dropped to a four-year low at 2.77% in May, while job growth was flat, according to payroll company Paychex. All rights reserved.