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C Corporation

Business charitable contribution rules have changed under the CARES Act

(CARES ACT), C Corporation, Charitable, Contributions, Coronavirus Aid (CARES Act), COVID-19, Deductions, Small Business /

In light of the novel coronavirus (COVID-19) pandemic, many businesses are interested in donating to charity. In order to incentivize charitable giving, the Coronavirus Aid, Relief and Economic Security (CARES) Act made some liberalizations to the rules governing charitable deductions. Here are two changes that affect businesses: The limit on charitable deductions for corporations has […]

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Determine a reasonable salary for a corporate business owner

C Corporation, Compensation, Employees, Internal Revenue Service (IRS), Shareholder, Small Business, Stocks /

If you’re the owner of an incorporated business, you probably know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason is simple. A corporation can deduct the salaries and bonuses that it pays executives, but not its dividend payments. Therefore, if funds are

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Thinking about converting from a C corporation to an S corporation?

C Corporation, S Corporation, Tax, Tax Planning, Tax Savings /

The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations in some circumstances, there are plenty of potentially expensive tax problems that you should assess before making the decision to convert from a C corporation to an

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2019 Q4 tax calendar: Key deadlines for businesses and other employers

2019 Tax Forms, C Corporation, FICA, Income Tax, Q4 Tax Calendar 2019, Tax, Tax Planning /

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. 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. October

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Which entity is most suitable for your new or existing business?

Business Income Tax, C Corporation, Capital Gains, Income Tax, Limited Liability Company, LLC, Partnerships, Past-Through Entities, Qualified Business Income Deducton (QBI), S Corporation, Small Business, Sole Proprietors, Tax Cuts and Job Acts (TCJA) /

The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income tax rates, which apply to sole proprietorships and pass-through entities,

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2019 Q3 tax calendar: Key deadlines for businesses and other employers

2019 Tax Forms, Business Income Tax, C Corporation, Contributions, Federal Income Tax, Federal Taxes, Income Tax, Partnerships, Retirement, S Corporation, Tax Deadlines, Tax Planning /

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. 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. July

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Beware the Ides of March — if you own a pass-through entity

2018 Tax Return, C Corporation, C Corporations, Federal Income Tax, Income Tax, Internal Revenue Service, Partnerships, Past-Through Entities, S Corporation, S Corporations, Tax, Tax Deadlines, Tax Deduction, Tax Planning /

Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March 15, is the federal income tax filing deadline for these “pass-through” entities. Not-so-ancient history. Until

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A refresher on major tax law changes for small-business owners

C Corporation, Individual Income Tax, LLC, Partnerships, Past-Through Entities, Personal Service Corporations (PSCs), Qualified Business Income Deducton (QBI), S Corporation, S Corporations, Small Business, Sole Proprietors, Tax Credits, Tax Cuts and Job Acts (TCJA) /

The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns

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2018 Q4 tax calendar: Key deadlines for businesses and other employers

2017 Tax Dealine, C Corporation, Income Tax, Internal Revenue Service, Q4 Tax Calendar, Small Business, Tax Calendar 2018, Tax Withholdings /

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. 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. October

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