Monthly Archives: April 2023

How to Coordinate Between Your Attorney and CPA written by Andrew Clinton The relationship between an attorney and a CPA may appear to be naturally competitive because both may have particular ideas about the treatment of your corporate structure and the resulting impact on company taxes. However, by creating a collaborative relationship from the initial… Read more »

Tax Dividends and Distributions written by Miranda Caballero One of the most important considerations when starting a new business is determining the payment structure for yourself and your employees. One key factor in making that determination is how to minimize your tax liability. In this article, we will compare and contrast payments made via dividends… Read more »

Shareholder Tax Options written by Andrew Clinton A C Corp shareholder involved in an asset sale would be well advised to look at the ramifications of double taxation at the corporate and shareholder level prior to the closing of such sale. Under an asset sale, federal and state income tax is first applied to net… Read more »

QBI Deduction Options written by Miranda Caballero As a business owner who is focused on your bottom line, you are likely always looking for additional deductions to your taxable income. The Internal Revenue Code provides for a simple reduction of income for a qualified business. The Qualified Business Income (QBI) deduction, also known as Section… Read more »

S Corp vs. C Corp Tax Election Topics written by Andrew Clinton Perhaps one of the biggest decisions to be made when forming your business is that between election of S Corp or C Corp tax treatment. Under a corporation’s bylaws, C Corp tax designation is the default. An S Corp election requires the filing… Read more »

How to Mitigate and Legally Reduce State Corporate Taxes written by Andrew Clinton Each state has its own independent corporate tax scheme which may create additional reporting obligations and expenses for your business. Depending on the state of incorporation of your business, the answer to how to mitigate and reduce state taxes can vary widely…. Read more »

Corporate Tax Considerations written by Andrew Clinton Prior to incorporation or even mid-operation, a Board or CFO often faces the daunting task of considering what practical steps exist for managing and reducing their company’s corporate tax burdens. Just knowing where to start or whether to consult your attorney, your CPA, or even the IRS, is… Read more »