s corporation Tag

07 Sep

Posted at 00:40h in Business Tax Issues

WHAT IS AN S CORPORATION?S corporations (also referred to as "S Corps") are corporations or limited liability companies ("LLCs") whose founders have filed Form 2553 with the IRS, electing to have the company taxed as a "small business corporation" under the federal tax code. There is no such thing as incorporating...

31 Mar

Posted at 16:43h in Business Tax Issues

S Corporation RequirementsS corporations (also referred to as "S corps") are very popular amongst small business owners because they offer those businesses pass-through taxation, and also give the owners of those businesses potential tax benefits through the taking of shareholder distributions (also referred to as "draws" or "dividends") at reduced...

18 Dec

Posted at 02:10h in Business Tax Issues

LLCs Taxed as S Corps New business owners often do not realize that they have options about how their business will be taxed. IRS regulations have default rules, but those regulations also allow businesses to "check-the-box," which means that business owners can file elections with the IRS to be taxed by...

28 Oct

Posted at 05:53h in Startups

Choosing A Corporate Entity Choosing a corporate entity should be one of the first decisions you’ll make when starting up your new business. It may seem easy to skip this step, and instead forge ahead as a sole proprietor, but this rarely makes sense.  An entity protects your personal assets from...