S-Corporations
Tax information for subchapter S corporations.
S Corporation Tax Profile
Profile of subchapter S corporations, covering basic tax information, filing deadlines, and eligibility criteria.
Profile of subchapter S corporations, covering basic tax information, filing deadlines, and eligibility criteria.
S Corporation Overview
An overview of S corporations, their tax treatment, business structure, how to form an S corp, and audit tips.
An overview of S corporations, their tax treatment, business structure, how to form an S corp, and audit tips.
S Corporation Accounting Example - Questions from Readers
Forming a Subchapter S-Corporation and accounting for each shareholder's income and expenses is worth doing accurately. A step-by-step example of reporting income and expenses for a sample S Corporation with three shareholders.
Forming a Subchapter S-Corporation and accounting for each shareholder's income and expenses is worth doing accurately. A step-by-step example of reporting income and expenses for a sample S Corporation with three shareholders.
S Corporation Definition & Requirements for Eligibility
Definition of an S Corporation: a corporation that has between 1 and 100 shareholders and that passes-through net income or losses to shareholders. Covers eligibility criteria for electing S Corp status.
Definition of an S Corporation: a corporation that has between 1 and 100 shareholders and that passes-through net income or losses to shareholders. Covers eligibility criteria for electing S Corp status.
Forming an S-Corporation and Electing S-Corporation Status
How to form a subchapter S corporation using IRS Form 2553. Discusses deadlines for filing Form 2553 on time, with plenty of examples. Provides critical information on how to file Form 2553 late.
How to form a subchapter S corporation using IRS Form 2553. Discusses deadlines for filing Form 2553 on time, with plenty of examples. Provides critical information on how to file Form 2553 late.
Late Election for S-Corporation Status
How to form a subchapter S corporation when the corporation has missed the deadline for filing IRS Form 2553. Discusses making a retroactive S Corp election using a late filed Form 2553.
How to form a subchapter S corporation when the corporation has missed the deadline for filing IRS Form 2553. Discusses making a retroactive S Corp election using a late filed Form 2553.
S Corporation Taxation
S Corporations are generally exempt from federal income taxes. Discusses the difference between S Corp and C Corp taxation.
S Corporations are generally exempt from federal income taxes. Discusses the difference between S Corp and C Corp taxation.
Accounting for S Corporation Capital, Income, and Expenses
How to account for shareholder equity, capital, and loans in an S corporation. Discusses how to account for income and expenses, measuring shareholder equity and the value of converted property, and calculating adjusted stock basis.
How to account for shareholder equity, capital, and loans in an S corporation. Discusses how to account for income and expenses, measuring shareholder equity and the value of converted property, and calculating adjusted stock basis.
Accounting for S Corporation Loan Basis & Negative Basis
How to account for shareholder equity, capital, and loans in an S corporation. Discusses basis for shareholder debt, negative basis in equity and debt, how to restore basis, and various rules for S Corp losses.
How to account for shareholder equity, capital, and loans in an S corporation. Discusses basis for shareholder debt, negative basis in equity and debt, how to restore basis, and various rules for S Corp losses.
Converting Property to an S-Corporation
Dear Tax Guide, I recently started my own S-Corporation. Can my business depreciate the cost of property I donated to the business? How I can figure out how much to depreciate?
Dear Tax Guide, I recently started my own S-Corporation. Can my business depreciate the cost of property I donated to the business? How I can figure out how much to depreciate?
Preparing IRS Form 1120S, S Corporation Tax Return
Tips on how to prepare IRS Form 1120S, U.S. Tax Return for an S Corporation.
Tips on how to prepare IRS Form 1120S, U.S. Tax Return for an S Corporation.
Issuing IRS Form 1120S Schedule K-1 to S Corporation Shareholders
Schedule K-1 of Form 1120S is used to report each shareholder's pro-rated share of net income or loss from an S-Corporation, along with various separately stated income and deduction items. Schedule K-1 can also be used to summarize a shareholder's beginning and ending stock basis for the year.
Schedule K-1 of Form 1120S is used to report each shareholder's pro-rated share of net income or loss from an S-Corporation, along with various separately stated income and deduction items. Schedule K-1 can also be used to summarize a shareholder's beginning and ending stock basis for the year.
Preparing IRS Form 1040 Schedule E for S-Corporation Shareholders
Shareholders receiving a Schedule K-1 must report the amounts on IRS Form 1040 Schedule E, page 2. Generally speaking, ordinary net business income or loss is reported on Schedule E. Other income items are reported in the appropriate part of the 1040 tax return.
Shareholders receiving a Schedule K-1 must report the amounts on IRS Form 1040 Schedule E, page 2. Generally speaking, ordinary net business income or loss is reported on Schedule E. Other income items are reported in the appropriate part of the 1040 tax return.
Self-Employment & Payroll Taxes for S-Corporation Shareholders
Shareholders of S-Corporations do not pay Self-Employment Tax if they are actively engaged as a shareholder-employee of the S-Corporation. Instead, shareholder-employees are paid a salary, with their wages reported on a W-2 and with Social Security and Medicare taxes already withheld.
Shareholders of S-Corporations do not pay Self-Employment Tax if they are actively engaged as a shareholder-employee of the S-Corporation. Instead, shareholder-employees are paid a salary, with their wages reported on a W-2 and with Social Security and Medicare taxes already withheld.
Tax Tips & Audit Strategies for S-Corporation Shareholders
The number one audit risk for S-Corporations is salary and wages paid to officers of the corporation. S-Corporations are also subject to hobby-loss rules. Together these are the two most significant audit risks facing S-Corporations right now.
The number one audit risk for S-Corporations is salary and wages paid to officers of the corporation. S-Corporations are also subject to hobby-loss rules. Together these are the two most significant audit risks facing S-Corporations right now.
Instructions for Form 1120S (2004)
IRS instructions for Form 1120S, Income Tax Return for an S Corporation.
IRS instructions for Form 1120S, Income Tax Return for an S Corporation.
Form 1120S (2004), Income Tax Return for an S Corporation [PDF]
IRS Form 1120S, Income Tax Return for an S Corporation, for tax year 2004 in the PDF file format. Requires Adobe Reader.
IRS Form 1120S, Income Tax Return for an S Corporation, for tax year 2004 in the PDF file format. Requires Adobe Reader.
Small Business Taxes Made Easy (Book Review)
Review of the book "Small Business Taxes Made Easy," by Eva Rosenberg.
Review of the book "Small Business Taxes Made Easy," by Eva Rosenberg.