Business Structuring Archives - Philadelphia CPA
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Business Structuring

When you first see that 21 percent tax rate for the C corporation, you have to think that this could be the choice of entity for your business operation.Further, when you find yourself in the out-of-favor group for the 20 percent deduction, you naturally gravitate...

 Tax reform created a new 20 percent tax deduction for select pass-through entities. Will your business operation create the 20 percent tax deduction for you? If not, and if that is due to too much income and a lack of (a) wages and/or (b) depreciable property,...

¬†Update on Health Insurance for Your S Corporation You and your S corporation continue to enjoy good news in 2018 when it comes to your health insurance. And that good news also applies to your 2017 taxes. You first have to thank the 21st Century Cures Act for: ...

Limited liability companies (LLCs) provide liability protection for all owners (members), regardless of their managerial functions; and multi-member LLCs qualify for favorable partnership-tax rules.This benefit can be lost or curtailed if you do not have an operating agreement document in your company records.LLCs are created...

The sole proprietorship (SP) is the simplest form of doing business. No tax ID# or Employer Federal ID# is required. All of your income and expenses for your business are reported on Schedule C of your Form 1040 Tax Return-therefore, no extra return is required...