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s corporation+taxes

Non-Shocking Tax Shockers

January 18, 2010 by James Maule with 171 views

The Government Accounting Office has issued a report in which, relying on data from the IRS National Research Program, it discloses that 68 percent of S corporation returns filed for 2003 and 2004, the last years for which information is available, contained errors. It also noted that, citing an earlier report, 70 percent of sole... [read more]

LLC S CORPORATIONS: A BAD IDEA?

May 21, 2008 by Joe Kristan with 40 views

While limited liability companies are normally taxed as partnerships, you can elect to have them taxed as corporations. If you want to have the LLC be an S corporation, with its income taxed to its owners, the LLC operating agreement can't violate the "one class of stock rule" that requires S corporation shares to all have the same... [read more]

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