There are several factors to consider when converting from a C corporation to an S corporation. Here are four of the tax issues you may face. Continue Reading Should you convert your business from a C to an S corporation?
Starting in 2024, newly formed corporations, LLCs, limited partnerships, and other entities that file formation papers with a state’s Secretary of State office (or similar government agency) must file a report providing specific information regarding the entity’s “beneficial owners.” Entities in existence prior to January 1, 2024, have until January 1, 2025, to file these reports. Continue Reading California Pass-Through Entities: The first 2024 PTE payment is due June 15
If you’re adding a new partner to your partnership, you may think the tough part is over once you find the right person. But there could be complex tax issues to consider. Continue Reading Growing your business with a new partner: Here are some tax considerations
Home selling (and buying) season is heating up. At the same time, rents are high in many parts of the country. What are the tax implications if you buy another home but decide to keep your current home and rent it out? Continue Reading The pros and cons of turning your home into a rental
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Advantages of keeping your business separate from its real estate
/in Tax/by KKB CPAsIt may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate
Cutoffs: When to report revenue and expenses
/in Tax/by KKB CPAsDoes your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses
Help ensure your partnership or LLC complies with tax law
/in Tax/by KKB CPAsGuaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law