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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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Sales tax and the Navajo Nation

TaxConnex

should know that sales tax obligations for these sovereign nations and territories resemble those obligations in other areas of the U.S. Areas such as the Navajo Nation have tribal sovereignty; for tax purposes, this means their sales tax laws are separate from the states within which they reside.

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Stripe and sales tax: What you need to know

TaxConnex

Recent developments in payment platforms and tax regulations have brought increased attention to the IRS reporting requirements triggered by lower income thresholds. With these changes in mind, it's important to consider how using a payment platform impacts the collection of sales tax. sales taxes? and international sales.

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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. Tax departments are expected to be the leaders for most organizations as they move quickly along the GenAI maturity curve.

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Should Tax Planners Work with Family Offices? How Family Offices Work

CTP

In recent years, tax planners have increasingly been recruited to work alongside family offices. Adding a knowledgeable tax planner to their team can greatly increase the value the firm provides its clients. Tax planners should be aware that the smaller the family office is, the more problematic it becomes from a tax perspective.

Tax
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Should Tax Planners Work with Family Offices? Tax Benefits of Establishing a Family Office

CTP

Established, wealthy families have long leveraged the concept of a “family office” to preserve their wealth, ensure business succession, establish governance and control, and foster their family legacy. However, a family office is an expensive setup—which is one of the reasons a tax planner can be a value-add to this team.

Tax
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Understanding Nevada LLC Taxes

inDinero Tax Tips

You may have heard that Nevada LLC taxes are favorable to business owners. This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate.