Maximize Your Tax Savings: The Smart Way to Make IRA Contributions

Maximize your tax savings! Learn how to make last-minute IRA contributions before the deadline and reduce your taxable income.

March 26, 2025

Understanding Disproportionate Distributions in S Corporations

S corporations must distribute profits proportionally to ownership stakes, ensuring compliance. Unequal distributions risk tax penalties and loss of S status but can be corrected.

March 25, 2025

Understanding Distributions in Excess of Basis

Distributions from an S corporation are tax-free up to stock basis. Any excess may be taxable as dividends or capital gains.

March 21, 2025

Switching Between C and S Corporations: Key Considerations and Tax Implications

Switching from C to S corp triggers a 21% Built-In Gains Tax on asset sales within five years—strategic planning minimizes tax impact.

March 19, 2025

Case Study: Understanding S Corporation Distribution Determination

S corporation distributions impact taxes based on earnings layers and stock basis. ABC’s case shows tax-free and taxable dividend allocations, emphasizing compliance.

March 18, 2025

Understanding Distributions: Analyzing Tax Implications for Business Owners

S corporation distributions can be tax-free if within a business owner’s stock basis. Exceeding basis triggers taxable gains. Understanding tax rules prevents unnecessary liabilities.

March 14, 2025

Tax Savings Tips: Understanding Reasonable Compensation

Understanding reasonable compensation is vital for S and C corporation shareholders to avoid IRS scrutiny, optimize taxes, and ensure compliance.

March 12, 2025

Reasonable Compensation for C Corporations: What You Need to Know

C corporation owners must ensure reasonable compensation aligns with services rendered, avoiding IRS scrutiny, dividend reclassification, and tax penalties.

March 10, 2025