In the last four years, content creation has undergone significant changes, with platforms such as Twitch, OnlyFans, Youtube, Instagram, and TikTok now serving as viable sources of income. Despite ...

S-corps and C-corps have very different pros and cons when it comes to taxes, formation and who the owners are. Many, or all, of the products featured on this page are from our advertising partners ...

Converting your LLC to an S-corp when filing your tax return can be a complicated process, but it is possible. Find out how it can be done. Converting your LLC to an S-Corp when filing your tax return ...

An S corp and C corp share a number of similarities. They are both types of corporations recognized by the IRS. They can also both raise funds by issuing stock to shareholders. However, S corps are ...

Discover how sole proprietorships, LLCs, partnerships, C corps, and S corps are taxed. Choose the best structure for optimal ...

An S corp is an organization that has chosen to pass its tax burden to its shareholders, rather than report income, losses, deductions and credits directly to the Internal Revenue Service (IRS).

The deadline for existing limited liability companies and C Corporations to elect S Corporation tax treatment for the tax year 2022 was March 15. So, what happens if a business missed the S Corp ...

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 ...

There are three main options: salary, distributions or both. The best choice depends partly on your role in the S-corp. Many, or all, of the products featured on this page are from our advertising ...

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 ...

The IRS has always had S Corp shareholders attach informal schedules to their tax returns to report their stock and debt basis. Starting with returns for 2021, the IRS mandates attaching a new form: ...