The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over C corporations in some circumstances, there are potentially costly tax issues that you should assess before making the decision to convert from a C corporation to an S corporation.
If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages.
The easiest way to survive an IRS audit is to get ready in advance IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you...
Deducting Expenses on Investment Portfolio
Relief from Tax Liability for “Innocent Spouses”
What tax records can you throw away?
Handling Website Costs with Taxes
Key Points of Bonus Depreciation
Concerns on Deferring Employees’ Social Security Taxes
CARES Act and Excess Business Loss