Is an LLC automatically taxed as an S-Corporation?
- November 29th, 2023
- David Greene
- Comments Off on Is an LLC automatically taxed as an S-Corporation?
The answer to this question is no, you have a choice. When the LLC is formed, you choose how the LLC is to be taxed. A single member LLC can be taxed either as an S-Corporation or as a Sole…
Hints to help new businesses stay out of tax trouble.
- September 4th, 2019
- David Greene
- Comments Off on Hints to help new businesses stay out of tax trouble.
There are many hints or suggestions I can give a new businessman, but I do not have that much room. I will give you five very important hints to keep you straight with the IRS. First, form your business as…
What are the odds of being audited.
- March 5th, 2019
- David Greene
- Comments Off on What are the odds of being audited.
I get similar questions to this quite frequently. Here are some statistics from 2017. Out of 150 million tax filers in 2017, here are some stats based on gross income and other factors: Returns audited (a) for international taxpayers – 1…
Here are some important tax tips for new start-up companies.
- October 3rd, 2017
- David Greene
- Comments Off on Here are some important tax tips for new start-up companies.
Here are some tips relative to the financial and tax implications of a new business. To make the best decisions, you should consult with an attorney or accountant when implementing these tips. (1) Pick a business structure – S or C…
What kind of return does an LLC file?
- December 9th, 2016
- David Greene
- Comments Off on What kind of return does an LLC file?
An LLC can file its taxes in one of two ways. When the LLC is formed, the members choose how the LLC is to be taxed. It can be taxed either as an S-Corporation or as a Partnership. In the…