CPA Practice

SEPTEMBER 12, 2024

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.

Kansas 104

Kansas Pennsylvania audit accounting and finance 104

xendoo

JANUARY 16, 2023

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. Shareholders still must file their personal income tax returns and report the corporate dividends and capital gains they get as part of their taxable income.

business tax 52

business tax Tax income tax payroll tax 52

LyfeAccounting

FEBRUARY 9, 2021

Speaking of losses, if your S-Corp loses money, those losses are then deductible on your personal income returns. As an example, if you are the sole owner of an S-Corp, and the business suffered a loss of $10,000, you would be able to take a $10,000 deduction on your tax return , meaning the loss can offset any other income that you received.

Tax 52

Tax audit New Hampshire income tax 52