Here are the quick benefits of an S Corp election: Primary benefit is the reduction of Social Security and Medicare taxes (self-employment taxes). You might need to process payroll (pay wages) to not be wage-limited on your Section 199A qualified business income (QBI) deduction. An LLC or...
Internal Revenue Service has issued rules that simplify the process of choosing to treat some types of business entities as S corporations and make it easier for some entities to file a late S corporation election. Provision for an eligible entity with two or more owners to elect to be ...
In general, the revenue procedure expands the time for requesting relief for these late elections to 3 years and 75 days after the date the election was intended to be effective. However, for a simple late S election request, if certain requirements are met, there is no deadline for request...
such as purchasing tickets for political fundraising gatherings. When a contribution is made with the intent of impacting an election, it cannot be claimed as a tax deduction.
作者: S Brookes 摘要: Companies House has updated its guidance about the penalties applied for late filing ofaccounts and the related appeals process. The guidance explains that in return for the limited liability of a company, the company'sofficers must provide information about the company to...