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C Corporation

New law eases the limitation on business interest expense deductions for 2025 and beyond

(ATI) Adjusted Taxable Income, Business Deductions, Business Income Tax, Business Interest Expenses, C Corporation, Limited Liability Company, One, Big, Beautiful Bill Act, Partnerships, Pass Through Taxation, S Corporation, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips /

Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now some changes under the One Big Beautiful Bill Act (OBBBA) will result in larger deductions for affected taxpayers. Limitation basics The deduction for business interest expense for a particular tax year is generally limited to 30% of […]

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How will taxes affect your merger or acquisition?

(LTCG) Net Long-Term Capital Gain, Asset Sale of Business, C Corporation, Federal Income Tax, Federal Taxes, Limited Liability Company, One, Big, Beautiful Bill Act, Past-Through Entities, Sale of Business Assets, Small Business, Small Business Owners, Small Business Stock, Small Business Tax Tips, Small Business Tips, Sole Proprietors, Stock Sale of Business /

Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success or failure. So if you’re thinking about a merger or acquisition, you need to consider the potential tax impact. Asset sale or stock sale? From a tax standpoint, a transaction can basically be structured

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Can you turn business losses into tax relief?

Business Deductions, Business Income Tax, C Corporation, Net Operating Loss (NOL), Small Business, Small Business Owners, Tax Planning /

Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be used to reduce taxable income in later years. Who qualifies? The net operating loss (NOL) deduction levels the playing field between businesses with steady income and those with income that

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Corporate business owners: Is your salary reasonable in the eyes of the IRS?

C Corporation, Compensation, Corporate Business Owners: Is Your Salary Reasonable In The Eyes Of The IRS, Corporations, S Corporation, Tax Return, Tax-Deductible Business Expenses /

Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions or reclassify payments, potentially leading to penalties, back taxes and interest. But by proactively following certain steps, owners can help ensure their compensation is seen

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Businesses considering incorporation should beware of the reasonable compensation conundrum

C Corporation, Compensation, Dividend Distribution, Highly Compensated Employees, Reasonble Compensation Conundrum, S Corporation, Small Business, Small Business Tips /

Small to midsize businesses have valid reasons for incorporating, not the least of which is putting that cool “Inc.” at the end of their names. Other reasons include separating owners’ personal assets from their business liabilities and offering stock options as an employee incentive. If you’re considering incorporation for your company, however, it’s essential to

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Operating as a C corporation: Weigh the benefits and drawbacks

C Corporation, de mimimis Fringe Benefits, Federal Taxes, Small Business, Small Business Owners /

When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and disadvantages that may significantly affect your business operations and financial health. Here’s a detailed look at the pros and cons of operating as a C corporation. Tax implications A C corporation allows the

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C Corporation, Capital Gains, Estate Planning, Limited Liability Partnership (LLP), LLC, Pass Through Taxation, Past-Through Entities, Real Estate, Small Business, Small Business Owners, Small Business Tax Tips /

Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsidering this strategy. With long-term tax, liability and estate planning advantages, separating real estate ownership from the business may be a wise choice. How taxes affect a sale Businesses that are formed

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2024 Q4 tax calendar: Key deadlines for businesses and other employers

2024 Income Tax Return Filing Season, 2024 Tax Calendar, C Corporation, Federal Income Tax Filing, FICA, IRA, Savings Incentives Match Plans for Employees (SIMPLEs), Simples, Social Security & Medicare (FICA) taxes /

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note:

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Closing a business involves a number of tax responsibilities

C Corporation, Federal Income Tax, Partnerships, S Corporation, Small Business, Small Business Owners, Sole Proprietors /

While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. If this is your situation, we can help you, including taking care of various tax responsibilities. To start with, a business must file a final federal income tax

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Consider borrowing from your corporation but structure the deal carefully

C Corporation, Closely Held Corporations, Dividend Distribution, Shareholder, Shareholder Loans, Small Business, Small Business Owners /

If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to avoid certain risks and charge an adequate interest rate. Basics of this strategy Interest rates have increased over the last couple years. As a result, shareholders

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