Your client has to file form 4626 Alternative Minimum Tax if a corporations tentative minimum tax is more than their regular tax. Let us show you how to avoid the alternative minimum tax for your clients corporation...more
Accumulated earnings tax is 39.6% of your clients companys taxable income. This means they lose almost 40% of their earnings when the company makes more money. Let us show you some legitimate reasons for shielding your clients earnings...more
Finding the tax rate for a corporation is not as easy as it is to figure a tax rate for an individual. This is because as an individual need only determine his taxable income, most corporations need to use several tax rates to determine their tax liabilities. Take a look at our easy steps to figuring your client's corporate tax rate...more
As is the case with individuals as well as corporations, tax credits are still better for you than tax deductions. Take a look at our list of available and often overlooked corporate tax credits.
A partnership is where the partners share in the capital and services provided plus they share the profits that result from their partnership. This article discusses the rules that the IRS has set for partnerships.
Let us show you some of the tax consequences when a client of yours terminates a partnership. The IRS might see their termination of operations differently than they do.
There are some common mistakes that many businesses make when filling out their Schedule C. We note a few of them as reminders for you to keep in the back of your mind when doing your clients taxes.
Corporations are taxed as entities separate from their individual owner. If your business is incorporated, the first $75,000 of profits in the business will be taxed at a lower rate than if you claimed them on your personal tax return...
S corporations offer the best of both worlds to some companies as you receive the liability protection that comes with being incorporated and the business profits and losses pass through to the owner's personal tax returns...
One of the best ways out there to save a corporation some taxes is by making charitable contributions. If a company feels that it is going to get hit with a large capital gains tax for that year, they can make a charitable contribution to any U.S. qualified charity to offset the tax bill. Read this article to find out what IRS qualifications are for a charity.
A tax year is an accounting method used to determine the amount to be reported for income and expenses plus record keeping. Picking a tax year to use in a partnership can be really hard especially if your client has multiple partners.
It might seem like a great idea at first but there is a very strict rule involved at the center of trading properties for stock. Your client doesnt want to be paying taxes on the stock they just bought or the property they just traded in. Let us show you how to make this exchange a non-taxable one.