Are you planning to start a small business in Florida with a limited budget and shareholders? The S-Corp status is ideal for your small business. You can take tax advantages of S-Corporation status, however, there are rules and regulations you…
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Form 2553 – An Overview Form 2553, Election by a Small Business Corporation, is used by businesses to elect under section 1362(a) to be an S corporation Status. The Status of S-Corporation helps business owners from double-taxation. It avoids paying…
What is an S Corporation? An S-Corporation is an IRS tax classification and not a business structure. Businesses such as LLCs and corporations can apply for an S corporation status. Small businesses mostly prefer S-Corporation status as the taxable income…
Starting a business in the United States is not a simple process and you may have to face many exciting and difficult experiences. If you are looking to start a business, you may have a good financial status, and business…
What is Form 1120-S? Form 1120-S is an IRS tax form designed for S-Corporations (limited liability companies taxedas S-corps) to gather information on the business’s income, losses, and deductions, credits of S-Corporation shareholders. This article helps you to know more…
The primary role of every U.S. citizen including individuals, and businesses is to pay their tax dues and report their financial activities to the IRS every year. As the 2022 year-end is fast approaching, you must get ready for meeting…
Form 1120-S is used by businesses elected as an S-Corporation (by filing Form 2553) to report their financial activities such as income, gains, losses, deductions, credits, tax and payments, international transactions, and more for the tax year. Filers should provide…
Form 1040 is an IRS tax form used by the U.S. Individuals to report their taxable income for the year. The form helps the IRS determine whether the tax filer will receive a tax refund or additional taxes are owed….
Even though organizations with 501(c)(3) status are exempt from paying tax, they must meet the IRS filing requirements through IRS Form 990. Form 990 is used by Nonprofits and Tax-Exempt Organizations to report their income, expenses, activities, governance, and more….
The Direct Mail Brochure Printing is the traditional marketing methods are vast and highly effective. Moreover, given the coronavirus situation, small businesses and middle-sized businesses have suffered a lot. They have shed a lot of value in terms of revenues….