My clients sometimes ask me: Why am I paying the tax and not my business? In today’s post, I’ll explain pass-through taxation and how it affects your individual tax liability. Why am I paying the tax and not my business?…
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S-Corporation
With the majority of states now allowing a pass-through entity tax (PTET) election, my clients have been asking questions about PTET and what this means for their businesses. In today’s post, I’ll explain PTET and help you determine your next…
S-Corporation owners and their tax professionals can avoid accuracy-related penalties by maintaining accurate records throughout the year. They can also avoid these penalties by correctly completing the Form 1125-E.
It’s important to keep a copy of your S-Corporation acceptance letter in your business records. If you need to know how to request a copy of your S-corporation acceptance letter, I’ve got the lowdown for you in today’s post. How…
This article explains an S-Corporation basis and why it’s an important number to keep your eye on as a small business owner.
My passion is teaching small business owners to understand their taxes while also helping them maximize their profits by reducing their tax burdens. In today’s post, I hope to do both of those things by explaining the magic QBI 28.57%…
When it comes to S-Corporation taxes, knowing the difference between dividends and distributions is important. It’s also good for business owners to have a clear understanding of how S-Corporation dividends or distributions are taxed. In today’s post, I’ll walk you…
Are you stressed because you forgot to file an S-Corp election for your business? Don’t. In today’s post, I’ll walk you through how to file a late S-Corporation election. I’ll also share with you my top-secret reasonable cause for filing…
It’s important for small business owners to have a plan for retirement. If you own an S corporation, there are several options available to you. In today’s post, I’ll give you the lowdown on the five main options so you…
Business owners often have questions about who should get a Form 1099 from them. If you’re an owner of an S-Corporation, you might have also been wondering if you’ll be receiving any Form 1099s from your clients. In today’s article,…