In the last four years, content creation has undergone significant changes, with platforms such as Twitch, OnlyFans, Youtube, Instagram, and TikTok now serving as viable sources of income. Despite ...

S-corps and C-corps have very different pros and cons when it comes to taxes, formation and who the owners are. Many, or all, of the products featured on this page are from our advertising partners ...

Converting your LLC to an S-corp when filing your tax return can be a complicated process, but it is possible. Find out how it can be done. Converting your LLC to an S-Corp when filing your tax return ...

An S corp and C corp share a number of similarities. They are both types of corporations recognized by the IRS. They can also both raise funds by issuing stock to shareholders. However, S corps are ...

An S corp is an organization that has chosen to pass its tax burden to its shareholders, rather than report income, losses, deductions and credits directly to the Internal Revenue Service (IRS).

The deadline for existing limited liability companies and C Corporations to elect S Corporation tax treatment for the tax year 2022 was March 15. So, what happens if a business missed the S Corp ...

There are three main options: salary, distributions or both. The best choice depends partly on your role in the S-corp. Many, or all, of the products featured on this page are from our advertising ...

Jessica Gibson is a content update editor and writer for Investopedia. She has over 10 years of experience in digital publishing and three years of experience covering financial topics like insurance, ...

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed. And I expect that occasionally you've encountered clients who made a change at one point but ...

The IRS has always had S Corp shareholders attach informal schedules to their tax returns to report their stock and debt basis. Starting with returns for 2021, the IRS mandates attaching a new form: ...

Under current tax law, an S corporation cannot produce earnings and profits (E&P); only C corporations can. However, if the S corporation was previously a C corporation, it may have accumulated E&P ...