Ineligible shareholders in an S corporation are corporations, partnership, many Limited Liability Companies (LLC), Limited Liability Partnerships, ineligible trusts, and nonresident aliens. Certain single-member LLCs can be eligible shareholders of an S Corporation. See our blog on Eligible Shareholders,
Nexus 1N Stick “Call Your Shot”
Watch Jonathan Toews and Auston Matthews make havoc at their video shoot for the BAUER NEXUS 1N Stick! You Tube NEXUS 1N Stick
Benchmarking Best Practices
By comparing your company to others in the same field you can easily evaluate your performance and maintain a path towards business success. Benchmarking helps you understand when you might need to adapt a new strategy to put your business on top of the market. With industry comparison, analysis of your business’ performance becomes more easily managed…. …Continue Reading
Strategies to Improve Cash Flow
Cash is often referred to as the lifeblood of a business because it is the primary indicator of business health. Without cash, the business will die. Four strategies for improving the cash flow in your business are to manage assets, manage accounts receivable, manage your suppliers, and manage trade volume. In a recent article for the… …Continue Reading
Meeting the One Class of Stock Requirement of an S Corporation
An S corporation can only have one class of stock. If it violates this requirement, it may cause the corporation to lose its eligibility to be an S corporation. An S corporation is treated as having only one class of stock if all of the outstanding shares of stock confer identical rights to distribution and… …Continue Reading
How is an LLC Classified for Tax Purposes?
A single-member LLC that does not file a classification election will be classified as a disregarded entity. Income and expenses from the business will be reported on Schedule C with the owner’s income tax return. The member has the option for the LLC to not be classified under these default rules by filing an election…. …Continue Reading
Are Losses Allowed?
Let’s say you have a loss from a limited partnership you invested in, or you are a shareholder in an S Corporation and have a flow-through loss. You have to determine if you’ll be allowed to take the loss on your tax return; it is not automatically allowed. The first limitation is basis. You must… …Continue Reading
5 Reasons to Improve your Cash Flow Forecasting
At its most basic level, cash flow forecasting helps a business survive. By knowing exactly what cash you have coming in and going out and when those transfers occur, you ensure you have enough cash to continue operating from day to day. But there are other, often related, reasons to improve your cash flow forecasts,… …Continue Reading
S Corporation Eligibility Requirements
S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double… …Continue Reading
SBA Learning Center
The Small Business Administration (SBA) features a virtual campus of free training courses and workshops on their website at https://www.sba.gov. Courses include Growing an Established Company, How to Prepare a Loan Package and Marketing 101. The featured courses now, of the sixty courses available on their website, are Taking Your High-Tech Product to Market, Understanding… …Continue Reading
