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Blogs about: S Corporations

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SENATE H.R. 3590 - TAXES, TAXES, TAXES

gx2loudnclear wrote 1 day ago: http://usdebtclock.org/  COMPREHENSIVE LIST OF TAX HIKES IN SENATE GOVERNMENT HEALTH BILL: H.R. 3590 … more →

Tags: Political Games, Radical Left, Stiffing the Public:Democrats in Action, Politics, Barack Obama, Republicans, Independents, Conservatives, Economy

Real Estate, Retirement and the IRA

Thomas J. Powell wrote 1 week ago: Retirement Planning Meets Real Estate (And Really Hit it Off) You are never too young to start savin … more →

Tags: 1, Alternative Investments, diversify, E-BOOK, eBook, ELP Capital, financial security, hedge, IRA

Year-End Tax Planning for Business: Some Simple Rules By Stuart Rohatiner, CPA, JD

Stuart Rohatiner, CPA, JD wrote 2 weeks ago: Here are some suggested tax strategies business owners need before Dec. 31, 2009 Purchase New Busine … more →

Tags: Accounting, Questions & Answers, Small Business, Tax, tax calendar, 2008 year end tax planning, dividend planning, income acceleration, income delay

S Corporations

mycpaweb wrote 3 weeks ago: S corporations are corporations that elect to pass corporate income, losses, deductions and credit t … more →

Tags: Accounting, AUDIT REPRESENTATION, Business Litigation, Tax Preparation, Tax Planning, Finance, business stucture, Tax, Accountant

The Two Issues Raised by Excess Passive Income in S Corporation Require Separate Remedies from IRS

Ed Zollars, CPA wrote 2 months ago: In a brief email notice (CCA 200937029), the IRS Chief Counsel’s office pointed out that the w … more →

Tags: Tax, IRC Section 1362, IRC Section 1375

Update on S-Corporation Failure to File Penalty3 comments

Brian Germer, CPA - Parsons & Grinage CPAs wrote 3 months ago: I had previously discussed this issue in my 1/22/09 post entitled “S-Corporation Failure to Fi … more →

Tags: 1120S, irs penalty abatement, late filing penalty, S-Corporation penalties, penalty abatement, s-corporation late filing penalty, $85 late filing penalty

Office In Home and Mileage Deductions2 comments

Brian Germer, CPA - Parsons & Grinage CPAs wrote 3 months ago: There is often a lot of confusion surrounding an office in home and the mileage deduction and the di … more →

Tags: Partnerships and LLCs, Sole Proprietorships/SMLLCs, Tax Planning, Tax Tips, auto expenses, business miles, business use of vehicles, commuting miles, FreeMind software

Travel Expenses and Business Planning Trips

Brian Germer, CPA - Parsons & Grinage CPAs wrote 3 months ago: It is the that time of year again, when most people are on vacation – or at least they wish th … more →

Tags: Corporations, Partnerships and LLCs, Sole Proprietorships/SMLLCs, Tax Planning, annual business planning trip, business planning trips, Business Travel, foreign business travel, travel deduction substantiation

"S" Corporations

suttonlawgroup wrote 4 months ago: Subchapter “S” corporations, like LLCs, are pass through entities for taxation purposes; … more →

Oregon Business Tax Increase Update1 comment

Brian Germer, CPA - Parsons & Grinage CPAs wrote 5 months ago: As many of you may already know, there was a bit of drama last Wednesday in the Oregon Senate when H … more →

Tags: Oregon Income Tax, Partnerships and LLCs, Tax Acts and New Tax Laws, Governor Ted Kulongoski, House Bill 3405, Oregon Business Filing Fees, Oregon business tax increases, Oregon C-Corporation tax, Oregon corporation tax

Small Firms Considering Switch from S-Corp to C-Corp for Tax Advantages

Paul Nienow wrote 5 months ago: Via Business Week With upper-income tax rates set to increase in 2011, many firms are taking a look … more →

Tags: c-corporations

Loans from S-Corporation Shareholders14 comments

Brian Germer, CPA - Parsons & Grinage CPAs wrote 6 months ago: If you were to loan me $20k today, would you insist on loan documents, regular payments, and interes … more →

Tags: S-Corporation, Distributions, loans from shareholder, S-Corporation shareholder, documentation of shareholder loans, payment of shareholder expenses, interest on loans from S-Corporation shareholders

LLC Converting to Corporation Can Elect S Status as of Beginning of First Corporate Year, Deemed Always to Be an S Corporation1 comment

Ed Zollars, CPA wrote 6 months ago: The IRS ruled in Revenue Ruling 2009-15 that a partnership, including an eligible entity electing to … more →

Tags: Tax, llc

LLC vs. S-Corporation, Round 14 comments

Brian Germer, CPA - Parsons & Grinage CPAs wrote 6 months ago: When setting up a business and deciding on entity type, most people are looking for 1) liability pro … more →

Tags: Partnerships and LLCs, Sole Proprietorships/SMLLCs, S-Corporation, payroll tax, self-employment tax, real estate rentals, llc, limited liability company, Single Member LLC

Tax Return Adjusting Entries

Brian Germer, CPA - Parsons & Grinage CPAs wrote 6 months ago: When you get your corporate, LLC, partnership, or other business tax return from your CPA or tax pre … more →

Tags: Partnerships and LLCs, Sole Proprietorships/SMLLCs, Tax Tips, adjusting journal entries, AJEs, amortization schedules, business tax return services, CPA, depreciation schedules

City of Portland Tax Extension Reminder

Brian Germer, CPA - Parsons & Grinage CPAs wrote 7 months ago: We are at the 11th hour for filing tax returns today – hopefully you have filed already or hav … more →

Tags: Partnerships and LLCs, City and Local Tax, Sole Proprietorships/SMLLCs, City of Portland Tax, PBL, MCBIT, Multnomah Business Income Tax, Tax Extension

Self Rental Recharacterization

Brian Germer, CPA - Parsons & Grinage CPAs wrote 8 months ago: We have had passive activity rules for over 20 years and passive income recharacterization rules for … more →

Tags: Partnerships and LLCs, Individual Tax, passive income, passive net losses, recharacterization, self rentals, Regs. §§1.469-2(f)(6), lease to shareholder, sublease to corporations

S-Corporation Failure to File Penalty12 comments

Brian Germer, CPA - Parsons & Grinage CPAs wrote 10 months ago: Back in December of 2007, the 110th Congress passed HR4351 or the “AMT Relief Act of 2007 … more →

Tags: Tax Acts and New Tax Laws, $85 late filing penalty, 1120S, AMT Relief Act of 2007, failure to file penalties, HR4351, penalty abatement, S-Corporation, s-corporation late filing penalty

Choice of Entity for Risk Management and Tax Savings

dougmccullough wrote 10 months ago: Times of economic dislocation are often accompanied by disruptions to business relationships and con … more →

Tags: houston business, Tax, Choice of entity, LLCs


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