Under the Code and the Regulations issued thereunder, the gain or loss arising from the conversion of property into cash is treated as income realized or as loss sustained by the owner of the ...

A direct conversion of an S corporation into a C corporation, or a merger of an S corporation into a C corporation, will produce only limited Section 1202 benefits, and only with respect to new stock ...

An S Corporation is an IRS tax classification that allows an eligible entity to be a pass-through entity for tax purposes. This means that the business owners will report their share of business ...

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed. And I expect that occasionally you've encountered clients who made a change at one point but ...

What Is an S Corp? An S Corporation is a specific type of corporation that is designed to avoid the double taxation issue that regular corporations (C Corporations) face. S Corp elects to pass ...

Electing to establish an S corporation could unlock the tax benefits enjoyed by millions of small business owners — as long as financial advisors and clients avoid some pitfalls. Processing Content ...

IRC section 1363(d) generally requires a C corporation that elects to become an S corporation to include a “Lifo recapture amount” in its gross income. The amount is the difference between the ...

CPAs can help their clients determine what is a reasonable salary to pay shareholder employees (SEs) of S corporations, thus satisfying an IRS priority to collect proper amounts of employment taxes.