TaxConnections

 
 

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please enter your input in search

Tag Archive for Tax Code Changes

Start 2015 Tax Planning Now! Part 1

Tax Code Changes Create Challenges

What should small business owners focus on for 2015 tax planning?

An  important,  yet  often  overlooked,  issue  for small business owners is the choice of the form of entity under which they operate. For 2015, this will become critical as Congress contemplates major changes to  the  tax  code.  Currently, the maximum   corporate federal tax  rate  is  generally  less  than the maximum individual tax rate. This has led many business owners to consider converting their sole proprietorships and pass through entities (such as S corporations and LLCs) into C corporations, which are taxed at the lower corporate rate. Caution must be exercised before making this change, Read more