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…
Loans are the best option to get relieved of financial difficulties on time. With the facility to apply for personal loans online, you can meet your financial needs perfectly. You can confirm the annual percentage rate that gets varied for…
The primary goal of any business is customer satisfaction. And whether you own a jewelry store, restaurant, or doctor’s office, to completely satisfy your customers, apart from providing quality products and great services, you have to find the perfect business…
Food ordering services have always been available, but the rise of e-commerce and the widespread use of smartphones have given them a new dimension by encouraging the creation of on-demand or immediate delivery food delivery applications. The limitation has compelled…
The dream to stay fit and healthy has now become easier with the option of following a good diet and engaging in physical activities. In addition, you can also contact experienced therapists who are ready to offer improved Massage services…
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…