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Archives: July 2015

Tread carefully when determining compensation for S corp. shareholder-employees By distributing profits in the form of dividends rather than salary, an S corporation and its owners can avoid payroll taxes on these amounts. Because of the additional 0.9% Medicare tax…

With nonqualified stock options (NQSOs), if the stock appreciates beyond your exercise price, you can buy shares at a price below what they’re trading for. This is the same as for the perhaps better-known incentive stock options (ISOs). The tax…

If you usually receive a large federal income tax refund, you’re essentially making an interest-free loan to the IRS. Rather than wait until you file your 2015 tax return in 2016, why not begin enjoying your “refund” now by reducing…

On June 26, the U.S. Supreme Court ruled that same-sex couples have a constitutional right to marry, making same-sex marriage legal in all 50 states. For federal tax purposes, same-sex married couples were already considered married, under the Court’s 2013…

Washington, D.C. (June 22, 2015) – The American Institute of CPAs (AICPA) offered more than 40 recommendations to the Internal Revenue Service (IRS) last week for the Form 990, Return of Organization Exempt from Income Tax, and instructions. The recommendations include…

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