Book Helps S Corporation Owners Understand Taxes
Entrepreneur Peter Hupalo wrote "How To Start And Run Your Own Corporation: S-Corporations For Small Business Owners" to help entrepreneurs and small business owners who are starting S corporations."How To Start And Run Your Own Corporation: S-Corporations For Small Business Owners" discusses the taxation of S corporations in detail, including sample tax forms for a fictitious company."Many new entrepreneurs examine the S-corporation tax returns, the 1120S income tax return, and the shareholder K-1 forms and are confused. My book breaks down the tax forms line-by-line and explains intermediate topics like the Accumulated Adjustments Account (AAA) and Schedule M-2," says Hupalo.Other book topics include: stock basis; issuing shares, shareholder loans to the corporation; valuing a small corporation; par value versus non-par value stock, worker's compensation, withdrawing money from a corporation in the form of salary and dividends; the effect of Social Security and unemployment insurance on officer salaries; and how to minimize taxes."Among sophisticated entrepreneurs, the S corporation is a very popular option, because an S corporation allows the entrepreneur to save thousands of dollars in self-employment taxes," says Hupalo.Other popular business structures include sole proprietorships (Schedule C businesses) and Limited Liability Companies (LLCs). Sole proprietors file IRS Schedule C along with their personal 1040 income tax return. Limited liability companies are disregarded as tax entities. LLCs file as sole proprietorships if one person owns the company or as partnerships if the business has several owners."The net income from sole proprietorships and LLCs is subject to self-employment tax, which includes Social Security and Medicare tax," notes Hupalo.
"But, S-corporation owners can pay themselves reasonable wages or salaries and then remove the rest of the money in the form of employment-tax-free dividends," says Hupalo.Hupalo notes that not all businesses should operate as S corporations. In particular, S corporations are more complex than sole proprietorships or limited liability companies. S corporation owners must adequately document their companies' high-level decision making with corporate resolutions and corporate minutes. And, Hupalo says that businesses which plan to sell shares to many investors, either through Small Corporation Offering Registration (SCOR), private placements, or even employee stock options often operate as C corporations."C corporations are a good choice for a business which hopes to retain most of the company's earnings and grow the business. Many technology companies or biotech companies need to raise substantial amounts of capital to make the business viable.
Those businesses aren't usually concerned with removing extra cash flow from the business," says Hupalo.Hupalo's online article to help entrepreneurs decide between an S corporation or a limited liability company can be found at: http://www.hcmpublishing.com/Essays/S-corporation-vs-LLC.html(Book: "How To Start And Run Your Own Corporation: S-Corporations For Small Business Owners." HCM Publishing. http://www.hcmpublishing.com).
Global Volunteers Offers New Programs in Sri Lanka & Brazil
St. Paul, MN (ContentDesk) April 27, 2006 -- Global Volunteers is pleased to offer two new service programs -- in Sri Lanka and Brazil. Teams are now forming for summer and fall program dates. Here are details: Help rebuild lives in Sri Lanka:
Much work remains to be done in Southeast Asia in the wake of the devastating tsunami of Dec. 26, 2004, that killed an estimated 30,000 in Sri Lanka alone and left 500,000 homeless in the island nation.
Beginning this fall, Global Volunteers will send teams of volunteers to work on homebuilding and education projects in the community of Weligama on the southwestern tip of Sri Lanka.
Working in partnership with the nonprofit Direct Tsunami Relief, Global Volunteers teams will help build school facilities or new homes and paint or repair existing facilities.
There will also be opportunities to teach conversational English and other subjects.
This is an area that was severely damaged by the tsunami. In...
Tax help > Global Volunteers Offers New Programs in Sri Lanka & Brazil
TaxACT?, America?s #1 Value Leader in Tax Preparation Software Products and Services, Soothes the Sting of Preparing Tax Returns
2nd Story Software?, Inc., developers of America's most trusted value-priced tax preparation software, announces the release of TaxACT? Standard and Deluxe Editions for the 2004 tax season.Simplify and Streamline!
TaxACT Deluxe Gets Recognized and Offers Improved Navigation, Expanded Advice and Additional Calculators Denoted recently by PC Magazine as having a "sleek and fast design", TaxACT 2004 Editions are designated as being the Editor's preferred choice for "finance-savvy" taxpayers.
TaxACT's 2004 Deluxe Edition continues to simplify tax preparation and provide its users with an exceptional experience by improving its link integration to expert tax advice and help features.
At the same time, TaxACT has expanded the number of its interactive calculators within the Life Events QnA process, which are provided in partnership with J.K Lasser's? Your Income Tax 2005 by John Wiley & Sons, Inc. ? America's all-time best-selling tax guide.
More than ever,...
Tax help > TaxACT?, America?s #1 Value Leader in Tax Preparation Software Products and Services, Soothes the Sting of Preparing Tax Returns
Clouds on the Horizon: Property Title Issues Which Affect Sale
When buying or selling a home, proof of ownership, or the property title, and issues affecting it, are critical. If you have a cloud or lien on your title, this means somebody or some business entity has laid claim to a portion of the equity in your home. There are different types of liens that affect the marketability of your home. For this article, I interviewed Chris Swynford, an attorney in Williamsburg, Virginia, whom I utilize frequently for real estate transactions. Mr.
Swynford commented on several types of property liens that are common issues for homebuyers and home sellers. Property Title Insurance ? for Matters NOT of RecordIn order to understand the different types of liens, it is necessary to review the concept of the actual deed or title. A property title can be insured by a title company, and I always recommend my clients purchase owner's title insurance coverage, even though not required by commercial lenders (which ALWAYS require lender's carry title insurance)....
Clouds on the Horizon: Property Title Issues Which Affect Sale
Tax help > Clouds on the Horizon: Property Title Issues Which Affect Sale
Johnnierenee Nelson publishes sixth book on Kwanzaa poetry
San Diego, California (ContentDesk) December 31 2003--House of Nia is proud to announce the release of its latest publication, Classic Kwanzaa Poems: New and Selected
written by the award-winning poet and activist, Johnnierenee Nelson.
Classic Kwanzaa Poems is a rich collection of poetry which pays tribute to the African American holiday, Kwanzaa, which Nelson considers the most innovative dynamic to emerge from the Black Nationalist Movement of the 1960's. This collection is Nelson's fifth book in a series of Kwanzaa poetry.
Her first volume, A Quest for Kwanzaa, was heralded as the authoritative genesis of Kwanzaa literature. ????Included in Classic Kwanzaa Poems are new classics such as Kwanzaa is Rich, Kwanzaa Always Begins with a Bang, the Genius of Karenga, and the High Sounds of Kwanzaa.
Such selected classics as Come Kwanzaa with Me, Black Gold and the Beauty of Kwanzaa, have also been included. This book is a spiritually nurturing work for...
Johnnierenee Nelson publishes sixth book on Kwanzaa poetry
Tax help > Johnnierenee Nelson publishes sixth book on Kwanzaa poetry
Johnnierenee Nelson publishes sixth book on Kwanzaa poetry
San Diego, California (ContentDesk) December 31 2003--House of Nia is proud to announce the release of its latest publication, Classic Kwanzaa Poems: New and Selected
written by the award-winning poet and activist, Johnnierenee Nelson.
Classic Kwanzaa Poems is a rich collection of poetry which pays tribute to the African American holiday, Kwanzaa, which Nelson considers the most innovative dynamic to emerge from the Black Nationalist Movement of the 1960's. This collection is Nelson's fifth book in a series of Kwanzaa poetry.
Her first volume, A Quest for Kwanzaa, was heralded as the authoritative genesis of Kwanzaa literature. ????Included in Classic Kwanzaa Poems are new classics such as Kwanzaa is Rich, Kwanzaa Always Begins with a Bang, the Genius of Karenga, and the High Sounds of Kwanzaa.
Such selected classics as Come Kwanzaa with Me, Black Gold and the Beauty of Kwanzaa, have also been included. This book is a spiritually nurturing work for...
Johnnierenee Nelson publishes sixth book on Kwanzaa poetry
Tax help > Johnnierenee Nelson publishes sixth book on Kwanzaa poetry