Business

Choosing the right tax structure is a crucial decision when starting a business. Learn the key differences between S Corporations (S Corps) and C Corporations (C Corps) and discover how these tax structures can impact your tax liabilities. Set your business up for financial success by diving into our comprehensive analysis: Choosing the Right Tax Structure: S Corp vs. C Corp Election for Entities.

Why Dividends Received Deduction is important? Dividends Received Deduction (DRD) is available to Corporations.  The purpose of the dividends received deduction is to mitigate multiple taxation of corporate income.  If a corporation owns a stock in another corporation and receives dividends,  then a portion of dividends may be deducted from income as a special deduction

A business can choose accrual method of tax accounting but it has to be eligible to use the cash method of tax accounting. Cash method of tax accounting eligibility  In general, a business recognizes income when actually or constructively received Public Law 115-97 provides a guideline for businesses to be eligible to use the cash