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Operating as a C Corporation: Weigh the Benefits and Drawbacks

RogerRossmeisl

Heres a detailed look at the pros and cons of operating as a C corporation. Tax implications A C corporation allows the business to be treated and taxed separately from you as the principal owner. The corporate tax rate is currently 21%, which is lower than the highest non-corporate tax rate of 37%.

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Corporate Tax Leaders’ Views on GenAI Have Flipped, EY Survey Finds

CPA Practice

A new survey from Big Four firm EY reveals that CFOs’ and corporate tax leaders’ stances on generative artificial intelligence have shifted over the past year—from mostly negative to mostly positive.

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4% Corporate Tax Rate for Businesses

BuildYourFirm

What business owner would not be interested in a 4% corporate tax rate, zero capital gains, and zero dividends tax? Puerto Rico has been willing to supply a lucrative tax incentives because it needs money from business owners and investors here in the US.

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What Might Be Ahead as Many Tax Provisions are Scheduled to Expire?

RogerRossmeisl

A new political landscape in Washington could also mean other tax law changes. Corporate vs. individual taxes The TCJA cut the maximum corporate tax rate from 35% to. The post What Might Be Ahead as Many Tax Provisions are Scheduled to Expire? appeared first on Roger Rossmeisl, CPA.

Tax 262
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10 Facts About the Pass-Through Deduction for Qualified Business Income

RogerRossmeisl

It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. The deduction is intended to reduce the tax rate on QBI to a rate that’s closer to the corporate tax rate. It may also be claimed by trusts and estates. It’s taken “below the line.”

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Do you Qualify for the QBI Deduction and What Can you Do to Help Qualify?

RogerRossmeisl

The QBI deduction is: Available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships, and S corporations, as well as trusts and estates. Intended to reduce the tax rate on QBI to a rate that’s closer to the corporate tax rate. appeared first on Roger Rossmeisl, CPA.

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Choosing a Business Entity? Here are the Pros and Cons of a C Corporation

RogerRossmeisl

A properly structured corporation can protect you from the debts of the business yet enable you to control both day-to-day operations and corporate acts such as redemptions, acquisitions and even liquidations. In addition, the corporate tax rate is currently 21%, which is lower than the highest noncorporate tax rate.