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Confused about S Corps?
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S Corp Tax Rules
Deducting Losses in S Corporations - Basis Issues
Sole proprietors (Schedule C filers) deduct business expenses without any formalities. However, S Corporations have a basis limitation,...
Jan 24, 2024
Can My S Corp Pay My Personal Taxes?
Wondering if can pay personal taxes wit S Corps money? Learn why you can't, what happens when mistake is made and how to fix it.
Dec 23, 2023
How do S Corps and LLCs handle 1099-K forms?
If you own an S Corporation or a Limited Liability Company, you might have received a 1099-K and chances are you dont know what to do with it. Let’s break down what this form is, how it applies to your tax situation, and what to do if there’s an error. What Is a 1099-K Form? The 1099-K form is an informational form issued to report payments made through various payment processors like Stripe, Square, Etsy, PayPal, or even Quick Books. The form reflects gross payments receiv
Nov 14, 2023
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