Filing taxes for your LLC as an S Corp allows an owner-operator to designate him- or herself as an employee of the LLC yet to still report the income of the business on their personal tax return. S ...

Operating an LLC—or a corporation—taxed as an S-corp can provide significant tax savings to small businesses at every level.

Despite a lack of promissory notes, interest, or repayment terms, the Tax Court treats an owner’s advances to his business as loans and its payment of his personal expenses as repayments. Income from ...

In this episode of Tax Notes Talk, the second of a three-part series, Damien Martin and Tony Nitti of EY discuss their top tax cases from 2024, focusing on two S corp cases: Maggard v. Commissioner ...

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 ...