What are S-corp distributions?

What are S-corp distributions?

Let’s start this conversation by assuming the reader is already an S-corp shareholder. If not, get caught up on S-corps, HERE. For those on their second rodeo, S-corp distributions are often misunderstood, kind of like sharks. In the same way that a shark can only...
S-corporations – What’s not to love?

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. Most types of businesses can be an S-corp and from our perspective, the...
How do I become an S-corporation?

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.” S-corps are generally limited to two specific business entity types, a limited liability company (“LLC or...
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