Tag: S-Corporation
The LLC is Just One Form Away From S-Corp Status
If you were to walk into an accountant’s office, and explain to them that you are a small business owner running a sole proprietorship looking to form a company, what type of corporate entity do you think they would tell you to form? There’s a real good chance the first words out of the tax [...]
Posted by Paul Sponaugle on Tuesday, September 7th, 2010Posted in Limited Liability Company, S-Corporation
Tags: Limited Liability Company, S-Corporation
Harvard Business Services Can Help Your Entity Become an S-Corp
Entities are formed everyday with the intentions of becoming S-Corps, but some never complete the application. If you’re thinking about starting a new S-Corp or forgot to apply for the status for your existing entity, why not let the professionals at Harvard Business Services help your company become an S-Corp? General qualifications for S-Corp status [...]
Posted by Paul Sponaugle on Wednesday, April 28th, 2010Posted in S-Corporation
Tags: S-Corporation
Sole Proprietorship or S-Corporation?
At Harvard Business Services we know that when you start your own business it can be confusing to know what corporate structure is the best decision for you and your business. I just read a great article from Entrepreneur.com that does a fantastic job clarifying some of the confusion regarding a Sole Proprietorship and the [...]
Posted by Carleigh Lowe on Tuesday, March 23rd, 2010Posted in Articles of Interest, S-Corporation
Tags: S-Corporation, Sole Proprietor, Taxes
There’s Still Time to Become a S-Corp in 2010
If you’ve been following this blog or have ever incorporated a business then you probably already know about the S-Corporation or S-Corp, and the tremendous pass-through tax benefits associated with it. If not, check out Background on S-Corporations for a quick crash course. Though the concept is easy grasp, many fail to understand how a [...]
Posted by Paul Sponaugle on Friday, February 26th, 2010Posted in S-Corporation
Tags: S-Corporation, Taxes
S-Corp or C-Corp?
BusinessWeek recently posted an interesting article by Karen E Klein on taxes and the differences of a S-Corp and a C-Corp. The debate on proposed tax rate increases for the country’s wealthiest people has just begun, and the potential increases would not happen until 2011. Still, tax experts say it is not too early for [...]
Posted by Carleigh Lowe on Monday, June 1st, 2009Posted in Articles of Interest
Tags: Articles of Interest, C-Corporation, S-Corporation, Taxes
Making Changes: C-Corp to LLC and LLC to S-Corp
The two questions below are from clients and they illustrate the power of the LLC. One client wants to change his C-corp to an LLC. He must file a conversion with the State of Delaware and then notify the IRS. The other wants to change his LLC to be taxed like an S-corp. He doesn’t [...]
Posted by Paul Sponaugle on Friday, April 3rd, 2009Posted in Close Corporation, Delaware, INC Knowledge, Limited Liability Company, Q&A, S-Corporation
Tags: C-Corporation, Delaware, Limited Liability Company, S-Corporation
Background on S-Corporations
Double taxation is a horrible practice, which many governments around the world embrace thoroughly. It’s the nasty habit of a government to tax your company’s profits, and then when you distribute the after-tax profits to the shareholder’s they TOO have to pay tax on money the company already paid the tax on. In the USA, [...]
Posted by Rick Bell on Monday, March 2nd, 2009Posted in S-Corporation
Tags: S-Corporation, Taxes
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