Thinking about converting from a C corporation to an S corporation?

Thinking about converting from a C corporation to an S corporation?The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations in some circumstances, there are plenty of potentially expensive tax problems that you should assess before making the decision to convert from a C corporation to an S corporation.

ESOPs offer businesses tax and other benefits

ESOPs offer businesses tax and other benefitsWith an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement. Meanwhile, the business and its existing owner(s) can benefit from some potential tax breaks, an extra-motivated workforce and potentially a smoother path for succession planning.

Do you know the tax implications of your C corp.’s buy-sell agreement?

Do you know the tax implications of your C corp.’s buy-sell agreementPrivate companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are important to understand.

How entity type affects tax planning for owner-employees

12_26_16_80608570_SBTB_560x292.jpgCome tax time, owner-employees face a variety of distinctive tax planning challenges, depending on whether their business is structured as a partnership, limited liability company (LLC) or corporation. Whether you’re thinking about your 2016 filing or planning for 2017, it’s important to be aware of the challenges that apply to your particular situation.