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 ...

When launching a new business, one of the most critical decisions you'll face is selecting the appropriate legal structure.

Filing taxes for your LLC as an S Corp allows an owner-operator to designate him- or herself as an employee of the LLC yet to still report the income of the business on their personal tax return. S ...

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 ...

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.

IRC section 1363(d) generally requires a C corporation that elects to become an S corporation to include a “Lifo recapture amount” in its gross income. The amount is the difference between the ...

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