Everything You Should Know About S-Corporations
A guide to tax savings with S-corporations
An S-corporation is a federal tax election and can be formed from a regular company (a C-corp) OR an LLC.
What are S-corp distributions?
For most purposes, an S-corp distribution is defined simply as money you take out of the company that is not taxed through payroll.
What are S-corp distributions?
For most purposes, an S-corp distribution is defined simply as money you take out of the company that is not taxed through payroll.
S-corporations – What’s not to love?
The majority of GP CPA’s clients own and operate S-corporations (“S-corp”), as our firm specializes in the administration, accounting, and taxation that is unique to this type of business entity.
How do I become an S-corporation?
S-corporations (“S-corps”) is the technical term for the federal tax election, aka IRS Form 2553, and are named after their place in the IRS code, subchapter “S.”
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If your business involves repairs, maintenance, or installation services related to vehicles then this quiz will test your knowledge of current NC sales tax law.