tax consultant, tax return and Tennessee

Tax Benefits of S-Corporation: How Does a S-Corp Save Taxes?

LyfeAccounting

FEBRUARY 9, 2021

Speaking of losses, if your S-Corp loses money, those losses are then deductible on your personal income returns. As an example, if you are the sole owner of an S-Corp, and the business suffered a loss of $10,000, you would be able to take a $10,000 deduction on your tax return , meaning the loss can offset any other income that you received.

Tax

Tax audit New Hampshire income tax

Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

JANUARY 16, 2023

The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate. Shareholders still must file their personal income tax returns and report the corporate dividends and capital gains they get as part of their taxable income.

business tax

business tax Tax income tax payroll tax

Accountant Advocate

Tax Benefits of S-Corporation: How Does a S-Corp Save Taxes?

Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

Webinars

Stay Connected