With only a couple of months left in 2024, many business owners are preparing their year-end taxes. For some, this may include refining their financial structures, specifically working to minimize tax ...

Many banks have elected to be “S Corporations” for tax purposes. This status can provide significant tax benefits to the bank’s shareholders, but it also comes with several ongoing technical ...

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 ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. If you’re looking to switch your business from an LLC to an S corporation, the first thing ...

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).

For many reasons, the limited liability company (LLC) established itself as the preferred legal entity type for small businesses. Many find that the benefits of an LLC can be extended further if an ...

Business entity type and tax structure impact your organization’s finance and compliance requirements. Two popular choices are limited liability companies (LLCs) and S-corps. Although the arrangements ...

In this episode of Tax Notes Talk, the second of a three-part series, Damien Martin and Tony Nitti of EY discuss their top tax cases from 2024, focusing on two S corp cases: Maggard v. Commissioner ...