S corporation shareholders have an added reason to worry about their company’s annual performance: It has a direct impact on their own income taxes. How It Works Unlike a regular C corporation, an S corporation usually doesn’t pay federal income taxes itself. Instead, each shareholder is allocated a portion of the corporate income, loss, deductions, […]
Business Tax
Just What Is an Information Return?
Certain kinds of business payments trigger the need for what are called “information returns.” Just what are they and what are your responsibilities? Check out the list of the kinds of transactions you have to report. If you engaged in certain financial transactions during the calendar year as a small business or self-employed (individual), you […]