CPAs can help their clients determine what is a reasonable salary to pay shareholder employees (SEs) of S corporations, thus satisfying an IRS priority to collect proper amounts of employment taxes.

If you’re looking to switch your business from an LLC to an S corporation, the first thing to understand is that an S corporation is not a separate entity. An S corporation is where you make an ...

Choosing a business structure may not be the most glamorous part of starting a business. In fact, it can actually feel a little daunting. But the business structure you choose can affect how you pay ...

Jessica Gibson is a content update editor and writer for Investopedia. She has over 10 years of experience in digital publishing and three years of experience covering financial topics like insurance, ...

With only a couple of months left in 2024, many business owners are preparing their year-end taxes. For some, this may include refining their financial structures, specifically working to minimize tax ...

Many closely held businesses operate through entities classified as “S corporations,” an elective federal income tax regime that combines elements of corporate and partnership taxation. Among other ...

In this episode of Tax Notes Talk, the second of a three-part series, Damien Martin and Tony Nitti of EY discuss their top tax cases from 2024, focusing on two S corp cases: Maggard v. Commissioner ...

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed. And I expect that occasionally you've encountered clients who made a change at one point but ...

A direct conversion of an S corporation into a C corporation, or a merger of an S corporation into a C corporation, will produce only limited Section 1202 benefits, and only with respect to new stock ...