by Joan Buchman Miller | Dec 6, 2021 | Accounting, C Corporation, tax planning
If your business is successful and you do a lot of business travel, you may have considered buying a corporate aircraft. Of course, there are tax and non-tax implications for aircraft ownership. Let’s look at the basic tax rules. Business travel only In most cases, if...
by Joan Buchman Miller | Nov 17, 2021 | Accounting, C Corporation, employees, LLC, S Corporation, tax planning
With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the...
by Joan Buchman Miller | Nov 8, 2021 | Accounting, C Corporation, LLC, S Corporation
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you — a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability company...
by Joan Buchman Miller | Aug 16, 2021 | Accounting, C Corporation, tax planning
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults...
by Joan Buchman Miller | Jul 26, 2021 | C Corporation, tax planning
Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer and the corporation unless proper steps are taken. This issue is more likely to arise in...
by Joan Buchman Miller | Feb 6, 2017 | C Corporation, tax planning
Is a C corporation the best entity for your business? What are some of the major advantages and disadvantages of doing business as a C corporation? A C corporation allows the business to be treated and taxed as a separate entity from the owners. A properly structured...