Under applicable tax law and regulations for C-corporations
, distributions to shareholders in excess of current or accumulated earnings and profits should be reported as returns of capital instead of qualified dividends.
Keep in mind: companies organized as c-corporations
pay income tax as well.
The Association has also published the 2012 edition of the Long-Term Care Insurance Guide For Accountants And CPAs designed to give detailed explanations of how the tax rules handle premiums for individuals, self-employed, Limited Liability Companies and C-Corporations
The Small Business Jobs Act doubles the tax deduction for start-up companies (from $5,000 to $10,000), allows many small businesses to carry back their general business credits to offset five years of taxes, and changes the law to reduce taxes for C-corporations
that became S-corporations.
According to the Secretary of State's office, of the 402,918 businesses in Washington, I38,236 are active profit corporations - including C-corporations
, LLCs and others.
Chairman Rangel's plan targets large corporations, those that file taxes as C-corporations
Gordon provides audit, compilation, review, tax accounting and miscellaneous consulting services to not-for-profit organizations and closelyheld businesses including S-corporations, limited Liability companies, partnerships, C-corporations
and sole proprietors.
pay corporate income tax on the profits they generate, taxes are deducted from the individual stockholders of the S-corporation.
In just a little more than 300 pages, this work impressively covers a wide range of topics from individual tax preparation and planning to estates, trusts, IRAs, S-corporations, C-corporations
, partnerships, business income, and investment gains and losses.
Personal service corporations, S-corporations and C-corporations
with gross receipts of less than $5 million also can use the cash method of accounting.
At the same time, shareholder-friendly activity has increased sharply, particularly spinoffs of non-refining business segments into separate C-corporations
and tax-advantaged master limited partnerships (MLPs).
Quick, accurate and at the lowest rates, Vcorp's knowledgeable and experienced staff has helped form thousands of new businesses including: LLCs, S-Corporations, C-Corporations
, Partnerships, Non-Profits and Professional Corporations.