Learn how basis and at-risk amounts work together to determine loss deductibility in partnerships and S corporations, and why tracking both is essential for compliance and tax planning.
Disproportionate distributions in S corporations can trigger unintended tax consequences and even loss of S status. Learn where the risks arise and how strategic planning can preserve compliance while achieving unequal economic outcomes.
S-corporations are one of the most frequently discussed (but often misunderstood) tax structures for small business owners. While they can offer real savings on self-employment taxes, the benefits aren’t automatic – they depend on your income level, involvement in the business, and whether you’re ready to manage the added compliance responsibilities. Here’s what you need to know about how S-corps work, who they’re right for, and what’s required to maintain one.
The IRS Individual Online Account gives taxpayers secure, year-round access to tax records, balances, payments, and official notices all in one place. Read on to discover how this powerful tool works and how it can make staying on top of your taxes easier than ever.
Mailing a tax return or payment close to the deadline may be riskier than many taxpayers realize. Because the IRS relies on the postmark date to determine whether something was filed on time, recent changes to how the USPS applies postmarks could result in a later date than when you actually mailed it. To avoid potential penalties or delays, it’s important to plan ahead and use mailing methods that provide clear proof of when your documents were sent.
From expanded deductions and new above-the-line benefits to shifting phaseouts and sunsetting exemptions, 2025 offers unique opportunities for individuals to lower their tax liability before year-end. This guide highlights smart, timely moves to help you make the most of current law before key changes take effect in 2026.
Explore essential 2025 year-end tax strategies for businesses, updated for the One Big Beautiful Bill Act (OBBBA). From QBI planning to bonus depreciation, entity structure, and reporting changes, this guide helps you make informed, compliant, and tax-smart decisions before year-end.
Lauterbach, Borschow & Co. is proud to announce Bijal Maniar, CPA, and Sandra Diaz Salcido, CPA, as the newest Partners in the firm’s Tax Department. Their admission strengthens the firm’s leadership team and underscores our commitment to delivering expert, personalized guidance to clients.
Explore the intricacies of partnership distributions and uncover how they offer flexibility in profit allocation while presenting unique tax considerations. Delve into the fundamental principles, exceptions, and strategic approaches that can affect your tax outcomes and ensure seamless operations. Discover why clear agreements and professional guidance are crucial in navigating these complex regulations.
