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Operating as a C Corporation: Weigh the Benefits and Drawbacks

RogerRossmeisl

The corporate tax rate is currently 21%, which is lower than the highest non-corporate tax rate of 37%. The corporations profits are taxed at the corporate level and then any dividends distributed to shareholders are taxed again at the individual level. One of the primary disadvantages of a Ccorporation is double taxation.

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Unlocking the Mystery of Taxes on Employer-Issued Non-Qualified Stock Options

RogerRossmeisl

Tax planning objectives Youll eventually sell shares you acquire by exercising an NQSO, hopefully for a healthy profit. Have most or all of that profit taxed at lower long-term capital gain rates. The post Unlocking the Mystery of Taxes on Employer-Issued Non-Qualified Stock Options appeared first on Roger Rossmeisl, CPA.

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Navigating the Maze of Nonprofit Accounting Hurdles

AccountingDepartment

Navigating the complex world of non-profit accounting can feel like a daunting task for many non-profit managers. For non-profits striving to maximize their impact, understanding and overcoming common accounting challenges is essential.

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Financial Challenges Faced by Non-Profits and Solutions to Help Them Succeed

AccountingDepartment

Non-profit organizations often stand at the frontier of social change, operating with the noblest of causes but facing challenges unique to their sector, particularly in the financial realm. With a mission-driven focus and often a limited budget, navigating the complex financial landscape of a non-profit can be daunting.

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Why accountants make me laugh (without meaning to): multiple profits

Accounting Insight

The three profits included in accounting textbooks: gross profit, operating profit and net profit are a good start for accountancy students. Limiting them to just three types of profit is intended to avoid overburdening young accountants at the beginning of their studies. They introduce the other profits gradually.

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How to validate a resale certificate

TaxConnex

Different purchasers may be granted exemptions under a states statutes, and exempt buyers come in many different forms: the federal government; some state and local governments and government contractors; schools; churches; non-profit hospitals; and charities, for instance. Get the certificate from your customer.

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Sales tax risk: What to ask (part 2)

TaxConnex

Some buyers such as non-profits are also often exempt from sales tax, though be sure to get an exemption certificate to validate not collecting sales tax. Tangible personal property (TPP) generally incurs sales tax; services still often don’t.

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