Posts tagged as:

s-corporation

Congress Hates Small Businesses

30 May 2010

When I got up this morning, I was all set to blog more about the disaster that is (and let me type it out one more time) the American Jobs and Closing Tax Loopholes Act of 2010. Specifically, I was going to focus on the S corporation provisions, which seem to be taking a beating [...]

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Ask the taxgirl: S Corporation Deductions for Subcontracting

15 April 2009

Taxpayer asks: I own a S-Corporation. If I receive a project from my client and want to subcontract a part of it to another company, where do I show that expense on my business tax return? In deductions, there is a place to show 1099 subcontractor expense. However, this is not really a 1099 sub. [...]

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Ask the taxgirl: Reporting for Single Member LLCs and S corporations

24 March 2009

Taxpayer asks: Hi Tax Girl, I had income from multiple sources in 2008 – albeit, not much…it was a bad year I briely worked as an independent contractor for a real estate company and received a 1099-MISC for $5,467 of non-employeee compensation. It was reported under the single member LLC I formed (to my EIN). [...]

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S-s-s-s-smokin’!

20 July 2006

Yet again, s corporations are the most popular corporate entity in the US, representing a whopping 61.9% of all corporate entities! Nearly 3.3 million S corporation returns were filed for the tax year 2003, an increase of 5.9% from 2002.  Total net income reported by S corporations increased to $213.7 billion for Tax Year 2003 [...]

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Why do I feel like somebody’s watching me?

18 March 2006

Because maybe there is somebody watching me.  And that somebody is Uncle Sam. Yep, fresh off our firm’s annual unemployment compensation audit (we’ve been chosen almost every year in a random audit – luckily, no worries), I read today that IRS released a report that more than 1.2 million individual federal income tax returns (forms [...]

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