As an accounting professional, you know there are potential tax-related upsides and downsides for every type of business entity. It’s important to communicate those considerations to your clients to ...

A client of mine recently asked me what I thought was the best organizational structure for a small business, all things considered, especially related to the tax issues. So, I put together a list of ...

There have been many tax law changes in the last decade, from the big changes of the 2018 Tax Cuts and Jobs Act (TCJA) and temporary Covid-era rules from the CARES Act to the subsequent SECURE 2.0 and ...

Business entity type and tax structure impact your organization’s finance and compliance requirements. Two popular choices are limited liability companies (LLCs) and S-corps. Although the arrangements ...

The Internal Revenue Service allows a corporation to elect to be treated as a small business corporation, or S corporation, for federal income tax purposes, provided ...

If your business is set up as an S corporation, it acts as a separate entity for legal and financial purposes. On the financial side, deductible business expenses relating to the company must be ...

Business News Daily provides resources, advice and product reviews to drive business growth. Our mission is to equip business owners with the knowledge and confidence to make informed decisions. As ...

An S corporation is a tax status that separates personal and business liability and allows profits and losses to pass through to owners for tax purposes. S corps protect your personal assets through ...