by Brian Hare, CPA, CGMA | Feb 28, 2024 | Blog, Business, Tax
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax efficient since it’s taxable to you to the extent of your corporation’s “earnings and...
by Brian Hare, CPA, CGMA | Jan 17, 2024 | Business, Tax, Uncategorized
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations for tax and legal purposes — except QSBC shareholders are...
by Brian Hare, CPA, CGMA | Dec 19, 2023 | Business, Tax, Uncategorized
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. If you have questions about filing...
by Brian Hare, CPA, CGMA | Nov 22, 2023 | Blog, Business, Tax, Uncategorized
The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners. Rates and brackets If you run your business as a sole proprietorship or pass-through...
by Brian Hare, CPA, CGMA | Nov 9, 2023 | Uncategorized
If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability...
