I’ve got some bad news, unfortunately. The IRS may have destroyed or dramatically reduced your Section 199A deduction. At least if you’re a typical … [Read more...] about How the IRS Destroyed the Section 199A Deduction for Small Business S Corporations and Partnerships
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S Corporation Section 199A Deduction
The S Corporation Section 199A deduction gets complicated. Especially for S corporation business owners who don’t get good advice from a knowledgeable … [Read more...] about S Corporation Section 199A Deduction
S Corporation Home Office Deduction Revisited
My oldest friend (since 5th grade) is also a CPA. At lunch last week, he made a great observation. If you run your business as an S corporation and … [Read more...] about S Corporation Home Office Deduction Revisited
Section 199A S Corporation Dissolution
Some S corporation owners are starting to ask about Section 199A S corporation dissolution. In other words, should an S corporation dissolve to … [Read more...] about Section 199A S Corporation Dissolution
S Corporation Shareholder Salaries and Section 199A Deduction
Starting in 2018, S corporations face a new complexity when setting shareholder-employee salaries. While setting a low salary saves payroll taxes, … [Read more...] about S Corporation Shareholder Salaries and Section 199A Deduction
Year-end S Corporation Accounting Checklist
Do you own or do the accounting for an S corporation? If so, you want to make sure you take care of handful of year-end S corporation accounting tasks … [Read more...] about Year-end S Corporation Accounting Checklist
S Corporation Reasonable Compensation
Businesses often struggle with the "S corporation reasonable compensation" question. Set the number too low and you risk the wrath of the IRS. Set … [Read more...] about S Corporation Reasonable Compensation
The Million Dollar S Corporation Mistake
Bad or erroneous tax advice costs small business owners in all sorts of ways. But deciding not to run a successful small business as an S corporation … [Read more...] about The Million Dollar S Corporation Mistake
S Corporation Paperwork Problems
Right before New Year’s Eve, a tax court vaporized an S corporation and its shareholder due to what might only amount to poor S corporation … [Read more...] about S Corporation Paperwork Problems
S Corporation Partnerships Let You Break Rules
I want to talk about S corporation partnerships in this week's blog post. And here's why: S corporations provide great tax savings, but … [Read more...] about S Corporation Partnerships Let You Break Rules