If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder! For 2023, the SE
Know the ins and outs of “reasonable compensation” for a corporate business owner
Owners of incorporated businesses know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The
Is an S corporation the best choice of entity for your business?
Are you thinking about launching a business with some partners and wondering what type of entity to form? An S corporation may be the most
The right entity choice: Should you convert from a C to an S corporation?
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
The importance of S corporation basis and distribution elections
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses
How business owners may be able to reduce tax by using an S corporation
Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income