As previously mentioned, S corps' business structure offers tax advantages for a business owner through their pass-through taxation system, which is useful for small businesses. This structure allows the shareholders to report the corporation's income, losses, deductions, and credits on their individu...
Bridge, a C corporation, had $15,000 in accumulated earnings and profits at the beginning of the current year. During the current year, Bridge reported earnings and profits of $10,000 and paid $20,000 in cash distributions to its shareholders in both March and July. What amount of the ...
Fox, the sole shareholder in Fall, a C corporation, has a tax basis of 60,000. Fall has 40,000 of accumulated positive earnings and profits at the beginning of the year and 10,000 of current positive earnings and profits for the current year. At year-end, Fall distributed land with ...
A C corporation and an S corporation are similar in many ways, but the latter is a pass-through tax entity, meaning that taxes on its income are reported on its owner's personal tax returns. However, an S corp may not be the best option for all incorporated businesses because it comes...
Moreover, the dividends paid by an S corporation are not subject to double taxation, as they are for a C corporation. Because an S corporation cannot accumulate earnings as a separate entity, it is not subject to the accumulation earnings tax nor the corporate alternative minimum tax. And ...
MacDonough, Laura M
accumulated depreciation 累计折旧 accumulated dividend 累计股利 accumulated earnings tax 累积盈余税,累积收益税 accumulation 累积,累计 acid test ratio 酸性试验比率 acquired company 被盘购公司,被兼并公司 acquisition 购置,盘购 acquisition accounting 盘购会计 ...
Preparing the S corporation’s tax returns (Form 1120S) Since the IRS is a huge organization, the right hand doesn’t always talk to the left hand. Shocking, we know. Additionally, the IRS is bound by regulation to process Form 2553s within 60 days. However, they don’t, and they ar...
119 accrued liability 120 accrued revenue 121 accumulated depreciation 122 accumulated dividend 123 accumulated earnings tax 124 accumulation 125 acid test ratio 126 acquired company 127 acquisition 128 acquisition accounting 129 acquisition cost 130 acquisition decision 131 acquisition excess 132 acquisition su...
The net assets of a corporation is equal to: A. Total assets - total liabilities. B. Total assets - retained earnings. C. Total assets + total liabilities. D. Total assets + retained earnings. A corporation has $80,000 in total assets, $36,000 in total liabilities...