Taxpayer's Comprehensive Guide to LLCs and S Corps


Author: Jason Watson
Publisher: Watson CPA Group
ISBN: 0990763293
Category: Business & Economics
Page: 136
View: 908

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How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of KnowledgeBase articles on the Watson CPA Group website. The articles touched on basic topics such as how to elect S Corp status, payroll, reasonable salary determination, retirement planning, health care, fringe benefits and liability protection. Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. The articles were grouped and relabeled as the Taxpayer’s Comprehensive Guide to LLCs and S Corps which grew to 39 pages in its first edition. Time marched on, and more information was added to the first edition such as expanded retirement planning concerns, health care options after the Affordable Care Act and business valuations including exit strategies. Boom, we now had our second edition at over 100 pages. At that point it was suggested by some clients and colleagues to convert the PDF into an eBook as well as paperback. So here we are.. Each week we receive several phone calls and emails from small business owners across the country who have read our Taxpayer’s Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you. This book will show you how to reduce your self-employment taxes through an S Corporation election and how to use your corporation to your retirement and fringe benefit advantage. You will also learn the operational considerations of an S Corp plus the 185 reasons you should NOT elect S Corp status. Want to buy or sell a business? That’s in here too. This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of the precise words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.

Practical Guide to S Corporations


Author: Michael Schlesinger
Publisher: CCH
ISBN: 9780808017622
Category: Business & Economics
Page: 638
View: 4448

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Practical Guide to S Corporations (Fourth Edition) is written by noted practitioner, author and lecturer Michael Schlesinger. This new Fourth Edition contains extensive discussion of the changes brought about by the Pension Protection Act of 2006 and the Small Business and Work Opportunity Tax Act of 2007. It also covers Treasury regulations related to the Code Sec. 199 manufacturing deduction, as well as cases, rulings and pronouncements issued since the Third Edition.Comprised of fifteen chapters, this book starts by considering the tax advantages of electing S corporation status. The middle chapters, Chapters 2-12, detail the operations of S corporations, discussing statutory requirements, taxpayers who qualify as shareholders, and considerations when converting a C corporation to S status. Chapter 13 provides a comparison of S corporations to other business entities such as limited liability companies, partnerships, and C corporations. Chapter 14 discusses S corporation subsidiaries, and Chapter 15 covers employee stock ownership plans (ESOPs) for S corporations.The book also includes detailed reference material. The Index provides the best access to particular information, but the Contents in Detail can be used as a “second index” for quick entry into the topics. The Appendices supply sample language that can be used in practice, and the Case Table and Finding Lists compile all of the cases, statutes, rulings, and regulations documented throughout the chapters.S corporations are the most popular business entity type, and this updated CCH resource helps practitioners understand and manage individual S corps election, compliance, tax, planning and life-cycle needs. It explains the merits and limitations of S corps in relation to other entity choices and provides clear and practical guidance. Readers will appreciate the Michael Schlesinger's real-world insights and crystal-clear analysis of even the most complex subjects.

Practical Guide to Partnerships and LLCs


Author: Robert Ricketts,Larry Tunnell
Publisher: CCH
ISBN: 9780808016465
Category: Business & Economics
Page: 548
View: 7164

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Practical Guide to Partnerships and LLCs (3rd Edition), by Robert Ricketts and Larry Tunnell, discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples, practice observations, helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors' penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice.

The Complete Guide to Your First Rental Property

A Step-By-Step Plan from the Experts Who Do It Every Day
Author: Teri B. Clark
Publisher: Atlantic Publishing Company
ISBN: 0910627983
Category: Business & Economics
Page: 288
View: 4230

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The book covers property selection, tenant selection, inspecting premises, marketing and advertising of property, showing the property, tenant application, credit verification, employment and income verification, reference verification, lease agreement, deposits, walkthrough with tenant, collection of rent, late notices and collecting fees, statements, owner's proceeds, tenant complaints and requests, repairs, use of contractors, compliance with state and local regulation, property inspection after tenant leaves, deposit refund, accounting and computer software, income and expense, depreciation, a special section on using computers and the Internet, landlord tenant laws for all 50 states, federal housing regulations and disclosure information, legal issues, real estate terminology, techniques, advice, real estate management tools and software. Includes over 25 forms for use in the business.

Federal Tax Compliance Manual


Author: CCH Editors,CCH Incorporated
Publisher: CCH
ISBN: 9780808017370
Category: Business & Economics
Page: 2224
View: 863

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CCH's Federal Tax Compliance Manual (formerly published under title, "CCH Federal Tax Manual") is a comprehensive source for explanations, practical examples, filled-in tax return forms, key tax facts, federal tax tables and other information that will assist practitioners in accurately complete federal tax returns. This convenient and authoritative resource covers the preparation of tax returns and tax compliance -- providing helpful guidance on the basic federal tax rules and forms affecting individuals and businesses. The rules applied to everyday business and personal income tax decisions are thoroughly discussed with special emphasis on how these issues should be handled on the return.Among the topics covered are: - Individuals - Corporations - Pass-Through Entities - Income, Deductions and Credits - Tax Accounting Rules - Dividends, Interest, Rents and Royalties - Retirement Plans and Distributions - Depreciation - Sales and Exchanges - Gains and Losses - Decedents, Estates and Trusts - Exempt Organizations - Foreign Income - Estimated Tax and Withholding - Returns, Refunds and Credits - Estate, Gift and Generation-Skipping Transfer Taxes - Tax Planning

JK Lasser's Small Business Taxes 2009

Your Complete Guide to a Better Bottom Line
Author: Barbara Weltman
Publisher: John Wiley & Sons
ISBN: 9780470439395
Category: Business & Economics
Page: 576
View: 2735

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While many small business owners seek to improve their bottom line, few realize all the ways that tax laws can help them do so. J.K. Lasser's Small Business Taxes 2009 gives you a complete overview of small business tax planning in an accessible manner. Focusing on strategies that help you use deductions and tax credits effectively, shield business income, and maximize other aspects of small business taxes, this valuable guide will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow.

U.S. Master Tax Guide 2009


Author: CCH Incorporated
Publisher: CCH
ISBN: 9780808019039
Category: Business & Economics
Page: 864
View: 6016

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Providing helpful and practical guidance on today's federal tax law, this 92nd edition of the U.S. Master Tax Guide reflects all pertinent federal taxation changes that affect 2008 returns and provides fast and reliable answers to tax questions affecting individuals and business income tax.

U.S. Master Multistate Corporate Tax Guide


Author: CCH Editorial
Publisher: CCH
ISBN: 9780808015529
Category: Business & Economics
Page: 1671
View: 6229

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CCH's U.S. Master Property Tax Guide is a practical, quick-answer resource to the key issues and concepts that professionals who deal with state and local property taxes need to know. This handy desktop reference contains concise explanations on major property tax areas in a readily accessible, easy-to-use and easy-to-understand format. It provides an overview of the property tax and valuation assessment methods used by the different taxing jurisdictions, and provides readers with the key definitions, concepts and procedures necessary to understand the application of local property taxes.

Multistate Corporate Tax Guide (2009)


Author: John C. Healy,Michael S. Schadewald
Publisher: CCH
ISBN: 9780808092292
Category: Business & Economics
Page: 2100
View: 2406

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This exclusive insider's guide helps you handle state corporate tax questions quickly and effectively. It provides quick access to each state's statement of its position on key issues in corporate and sales and use taxation. A compilation of easy-to-access charts that summarize each state's answers to key issues in income, sales, and use taxation from the top state officials who interpret and apply the rules, the Guide puts vital state tax guidelines at your fingertips.

A Guide to Asset Protection

How to Keep What's Legally Yours
Author: Robert F. Klueger
Publisher: Wiley
ISBN: N.A
Category: Law
Page: 276
View: 5467

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How to shield your assets from creditors and other claimants. You've worked long and hard for your assets, from your business and home to hard-earned savings and investments. To safeguard them--particularly against liability suits, "America's number one indoor sport"--A Guide to Asset Protection offers proven strategies to help you keep what you may have spent a lifetime earning. Written by an attorney who specializes in tax-, estate-, and asset protection planning, this indispensable reference is filled with sound advice and practical tips on how to avoid the litigation jungle, as well as revealing insight on how creditors find and get at your assets. Actual case histories and model agreements steer you through the essentials, including: * Protection through trusts--irrevocable trusts and gift taxes, life insurance trusts, foreign asset protection trusts (FAPTs). * Fraudulent conveyances--the laws of fraudulent transfers, what fraudulent conveyance is (and is not). * Asset protection for married couples--separate and community property, transmutation agreements. * Using family limited partnerships--limited liability companies. * Employing qualified retirement plans--anti-alienation rule, nonqualified retirement plans, individual retirement accounts (IRAs). * Filing bankruptcy to protect your assets--dischargeable taxes, pre-bankruptcy planning, Chapter 7 and Chapter 13.

Starting and Managing a Nonprofit Organization

A Legal Guide
Author: Bruce R. Hopkins
Publisher: John Wiley & Sons
ISBN: 1118520629
Category: Business & Economics
Page: 384
View: 6970

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Nuts-and-bolts guidance on the laws, rules, and regulationsgoverning the nonprofit sector—from leading nonprofit lawexpert, Bruce R. Hopkins Nonprofits must comply with stringent federal and state laws dueto their special tax-exempt status; the government's ultimatethreat is revocation of a nonprofit's tax-exempt status, whichusually means the nonprofit's demise. Written in plain English, not"legalese," Starting and Managing a Nonprofit Organization: ALegal Guide, Sixth Edition, provides essential guidance forthose interested in starting nonprofits, as well as valuable advicefor leaders of established organizations. Revised and expanded to include updated information on changesin laws, rules, and regulations governing the nonprofit sector Covers federal tax law, nonprofit, governance, the annualinformation return (Form 990), charitable giving rules, and currentIRS ruling policy Presents essential, practical legal information ineasy-to-understand English Explains the applications and implications of corporate, tax,and fundraising laws for nonprofits This easy-to-read resource contains essential information onvirtually every legal aspect of starting and operating a nonprofitorganization from receiving and maintaining tax-exempt status totips for successful management practices.