When is the right time to have your small business taxed as an S-Corp? We look at some the pros and cons to consider when weighing this change.
Update: The IRS recently released guidance related to the 20% QBI deduction. In this article we dig into the concept of aggregation and what it means for owners of multiple related businesses.
An S-Corp is a popular structure to use for a small business. However, despite having many positive features, an S-Corp is a highly inflexible structure with many limitations. One such limitation is the way in which income or loss can be allocated to the shareholders.
Our May client bulletin looks at C-Corps vs. S-Corps/LLCs when it comes to Qualified Small Business Stock, taxes on lottery and gambling winnings, and handling health insurance through divorce.