Many Tax Payers form Limited Liability Company (LLC) in order to better protect them selves as LLC provides Limited Liability. But LLC comes with many requirements that must be followed in order to keep LLC compliant with state and federal laws. If you own a LLC, Do you know, ” When LLC Taxes Due?” LLC…
Category: Business
C Corp and S Corp Differences (Ultimate Guide)
Business owners in US has many choice of entities such as C Corp, S Corp, LLC, General Partnership or Sole Proprietorship. Many Business owners wonder what is best for them. If you are looking to pick either a C Corp or S Corp, its important to know “C Corp and S Corp Differences.” While both…
Can LLC be S Corp?
If you own a LLC or have formed an LLC recently, you may be wondering “Can LLC be S Corp (For Tax Purposes)? Short Answer is Yes. LLC is a very flexible entity. LLC can be taxed as a C Corp, S Corp, General Partnership or a Disregarded Entity. We have compiled a list of…
S Corp Late Election
In order for Election to be considered timely, S Corporation Election Form 2553 needs to be filed with the IRS within 75 days of formation of the entity. This form(2553) can be mailed via certified mail or faxed to the IRS. If this form is not timely filed it can have serious tax consequences. We…
How Often Do Business Pay Taxes?
There are Different types of Business Taxes such as income taxes, sales taxes and payroll taxes. Each of these type of taxes have different tax deadlines. Have you ever wondered “How often do Business Pay Taxes?” Lets learn different type of taxes that apply to a small business owner and how often do you need…
Can You have Multiple LLC?
Have you ever wondered “Can You have multiple LLC? “Short Answer is Yes. Lets learn more how different structures work and how they can be used for asset protection. US Law and Tax Law allows individuals and entities to be engaged in different types of businesses. As a result, you are allowed to form…
How LLC Members are Taxed?
LLC(Limited Liability Company) is one of the most flexible entity. It allows its members many options that are not available as other legal entities. LLC can elect to be taxed as: C Corp, S Corp, General Partnership or as a Disregarded entity(it files taxes as Schedule C along with personal tax return 1040) How LLC…
S Corporation: Ultimate Business & Tax Guide
Are you considering forming a S Corporation or converting your existing corporatoin or LLC to S Corp? This “S Corporation: Ultimate Business & Tax Guide” will help you make the right determination once you learn all the requirements to see if S Corporation right entitry type for you. What is an S Corp? S Corp…
Tax Benefits of Cost Segregation Study (Ultimate Guide)
Have you Considered the Tax Benefits of Cost Segregation Study? Cost Segregation can help speed up your depreciation and save thousands in Income taxes. Cost Segregation can help offset your rental or real estate income using bonus depreciation. Learn Learn how we can use Cost Segregation to help lower your tax burden. What are the…
Opportunity Zones & Tax Benefits
We have compiled valuable information below from credible sources such as Internal Revenue Service and HUD to help you understand Qualified Opportunity Zones & the Tax Benefits associated with them. In this article we will be discussing the following: What is an opportunity Zone? What are Opportunity Zone Tax Benefits? Opportunity Zone Maps for US…
