Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
LLC
LLC -Single Member Disregarded Entity – Sole Proprietor Tax Filing
Important tax aspects of operating your business as a sole proprietor If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are eight important issues to consider:...
Can LLC members avoid Self-Employment Tax on Distributions
WHEN ARE LLC MEMBERS SUBJECT TO SELF-EMPLOYMENT TAX? Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment...