Tax

It’s Not What You Take, It’s What You Make (A Guide to Understanding S Corporations and Pass-Through Taxation)

S corporations and partnerships are considered pass-through entities for tax purposes. But what exactly does that mean? In a nutshell, a pass-through entity passes through all its financial activity, which includes income and expenses, to its shareholders or partners. This financial activity is then reported on the personal tax returns of these shareholders or partners. The key takeaway here is that pass-through entities themselves are not directly liable for federal income taxes. In addition, they’re generally exempt from state income taxes, although it’s essential to note that some states may still assess income taxes on pass-through entities. The Reporting Mechanism:

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Why You Need To Setup A Holding Company Structure

Entrepreneurs can own multiple businesses in their lifetime. While you could separately own each business, you lose out on potential efficiencies. Learn more about the benefits a Holding Company Structure provides, and why you should consider implementing one.

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The 5-Step Guide To Hiring Remote Employees in 2022

In the age of remote work and a massive labor shortage, organizations all around the globe are hiring remote workers to fill the gaps within their companies. Read this guide to learn about the basic requirements to be compliant when onboarding and offboarding remote employees.

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