What is a “Per Se” Corporation?
A "per se" corporation is a corporate entity that cannot change its tax classification. Domestic and foreign eligible entities are generally able to file Form 8832 entity classification election.
How to Pay Yourself From an LLC?
If you're a business owner with an LLC, you'll want to know how to pay yourself from the company's accounts. The payment methods largely depend upon how the LLC is structured for federal tax purposes.
Give Your Hobby a Boost – Use an LLC Partnership or S Corporation
The hobby loss rules for U.S. tax purposes can be quite complex and nuanced. Many business owners can form a legal entity to try and give their operation a boost in the right direction.
Automatic Conversion of a Disregarded LLC to a Partnership
A disregarded LLC is an LLC with only one owner and has not elected to be an S corporation or a C corporation. When an LLC adds a second member, the LLC automatically becomes a partnership.
How to Prepare IRS Form 8825 for Rental Real Estate Income & Expense
A partnership or S corporation tax return may include Form 8825 to report rental income and expenses connected with rental real estate properties.
Top 5 Reasons to Avoid an S Corporation
For many business owners, the S corporation may not be the best choice for entity selection. This article and video discuss the top 5 reasons to avoid the S corporation structure.