Is C-Corp to S-Corp a Smart Move?
Reaching C-Corporation status can feel like the realization of a dream, and it can be the best structure for many businesses. However, sometimes it makes more sense to elect an S-Corporation filing status. Just don’t do it hastily: There are important considerations to be made. The C-Corp business structure is unique in that it turns […]
Dangers of TikTok Tax Advice
Are you a TikTok fan? Love someone who is? Many on the social media platform swear it’s a great way to pick up practical lifehacks, including valuable little nuggets of tax advice. But is it all it’s cracked up to be? According to a study by Personal Capital, more than half of TikTok users turn […]
IRS Caught Covering Up a $38 Million Blunder
The IRS was recently caught backdating a signature on a valuation penalty document—and then trying to talk their way out of trouble—in a giant conservation easement case. Legal experts wonder whether the IRS has backdated penalty documents in other similar cases, “hinting at a troubling picture of potentially systemic issues within the IRS.” This recent […]