There is a lot of confusion surrounding the taxation of pass through income versus salaried earnings as US taxpayers assess their positions after tax reform. This is far from "finished" and a wild roller-coaster ride is about to ensue for many US taxpayers. How will you know what to do? ...
The 20 Percent Deduction for Pass Through Income
The tax bill presented for the President's signature contains the 20 Percent Deduction for pass through income for the majority of US partnerships, S Corporations and sole proprietorships. Under existing tax law, business profits were passed through to the individual and taxed at their personal income rate. The top individual...
S Corporation Shareholders Should Be Watching Developments in Washington Closely
S Corporation shareholders should be watching developments in Washington closely as the tax bills advance. The recently passed house bill would create a new 25 percent tax bracket for what is referred to as "pass-through entities" such as S Corporations. The tax would apply to that portion of business net...
Starting a New Company Requires Integrated Expertise
Starting a new company requires integrated expertise across multiple disciplines including legal, tax, business advisory and accounting services. Allen Barron seamlessly integrates these services in a start-up package for entrepreneurs working to bring their dreams into reality. Starting a new company is much more than filling out a few forms...
New Tax Proposal Includes a 25% Pass Through Corporate Tax
While it is far too soon to draw conclusions on Washington's proposed tax reforms, the impact on LLC and S Corporations looks to be significant. The new tax proposal includes a 25% pass through corporate tax which could affect the majority of American business owners. Pass through profits are presently...
Tax Extension Due Dates for Corporate and Personal Returns Approaching
The tax extension due dates for corporate and personal returns is approaching quickly. Important deadlines for many corporate tax returns in September (originally due in March) and October (for personal filers originally due in April) will come to pass in the next 45 days. September 15 is not only the...
States ask the IRS to Clarify New Partnership Audit Rules
The "Multistate Tax Commission" adds their voice to the discussion as states ask the IRS to clarify new partnership audit rules and how assessments and adjustments at the entity level will affect how income will be impacted at the state level. The Commission wrote a letter to the IRS requesting...
Forming a New Business Entity in San Diego
Forming a new business entity in San Diego isn't a simple form with the Secretary of State. It isn't downloaded boilerplate corporate forms. The decision of which new entity - LLC, S Corporation, C Corporation or Professional Corporation (PC) - best suits your short and long term business objectives is...
San Diego Tax Preparation and Filing Services
Are you looking for San Diego tax preparation and filing services and a firm with the expertise to handle complex issues such as business ownership in an LLC or S Corporation, offshore investments and bank accounts, or international business interests? Allen Barron has decades of experience and service to the...