An S corp and C corp share a number of similarities. They are both types of corporations recognized by the IRS. They can also both raise funds by issuing stock to shareholders. However, S corps are ...

With only a couple of months left in 2024, many business owners are preparing their year-end taxes. For some, this may include refining their financial structures, specifically working to minimize tax ...

IRC section 1363(d) generally requires a C corporation that elects to become an S corporation to include a “Lifo recapture amount” in its gross income. The amount is the difference between the ...