Avoid Surprise Tax Hits When Using a Corporation for Your Business - Think Outside the Tax Box

Avoid Surprise Tax Hits When Using a Corporation for Your Business

Many taxpayers use S corporations (governed by Subchapter S of the Internal Revenue Code) or C corporations (governed by Subchapter C of the Internal Revenue Code) to legally reduce income taxes, payroll taxes, and self-employment taxes for their business.

However, without careful planning, a taxpayer may have a surprise tax bill from using a corporation for federal tax purposes.

This article will tell you when these unexpected tax hits can happen and how the taxpayer can avoid them with proper planning.

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Think Outside the Tax Box provides tax reduction strategies along with practical implementation advice in order to reduce your clients’ federal tax bill with ease.

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