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HHM CPAs Teams Up With Bizzell, Neff & Galloway in Florida

CPA Practice

Top 100 accounting firm HHM CPAs has expanded outside of Tennessee after merging in Pensacola, FL-based CPA firm Bizzell, Neff & Galloway on March 1. Founded in 1976 by Managing Partner Tom Bizzell, Bizzell, Neff & Galloway provides accounting, income tax, consulting, and financial services to individuals and business owners.

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Professionals on the Move – Sept. 2024

CPA Practice

Hight earned his master’s and bachelor’s degrees from Tennessee Tech University and previously served on the university’s College of Business Advisory Board. Becca Martin specializes in partnership taxation and supports clients in tax planning, tax consulting and tax return preparation.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

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The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

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Tax Benefits of S-Corporation: How Does a S-Corp Save Taxes?

LyfeAccounting

Note, that’s $9,180 more income, even after you take out Federal and State income taxes. In short, S-Corps can greatly reduce your self-employment tax obligation by only paying self-employment tax based on your salary and not on the total business income. Tax Benefits #2: Pass-through Taxation.

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