Many entrepreneurs with a Limited Liability Company (LLC) or C Corporation find S Corporation tax treatment an attractive option. An S Corporation is not a business entity in and of itself, but rather ...
A direct conversion of an S corporation into a C corporation, or a merger of an S corporation into a C corporation, will produce only limited Section 1202 benefits, and only with respect to new stock ...
In the S corporation arena, tax advisors and taxpayers generally do not focus a lot of attention on the S corporation shareholder eligibility rules other than at the time the S election is made. As we ...
If you have business clients who are considering changing their LLCs or C corporations into S corporations, now is a great time to discuss the pitfalls.
CPAs can help their clients determine what is a reasonable salary to pay shareholder employees (SEs) of S corporations, thus satisfying an IRS priority to collect proper amounts of employment taxes.
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IRC section 1363(d) generally requires a C corporation that elects to become an S corporation to include a “Lifo recapture amount” in its gross income. The amount is the difference between the ...
Please provide your email address to receive an email when new articles are posted on . Our next post in this series addresses the taxation of sale proceeds if a target practice is classified as an S ...
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