A shareholder-employee who owns more than 2 percent of the outstanding stock or voting power of an S corporation (based on direct ownership as well as attributed ownership) will be treated as a ...

Justice Clarence Thomas’s opinion for a unanimous court on Thursday in Connelly v.Internal Revenue Service resolved a pedestrian estate-tax problem for closely held corporations. The case presented a ...

The tax treatment of an S corporation as a pass-through entity, with respect to which items of income, gain, loss, and deduction do not generally result in a corporate tax obligation, but, instead ...

Expert Opinion Deductions for Amounts Paid By S Corporation Shareholders Fall between the Cracks In their Taxation column, David Kahen and Elliot Pisem discuss two recent Tax Court memorandum ...

However, a shareholder of a closely held business is most likely to be taken aback if they are held liable for their corporation’s own income tax liability, notwithstanding the corporation is a ...

An S corporation also allows for pass-through taxation, but S corps are limited to businesses with 100 or fewer shareholders. Whether or not you choose an LLC or S corp to pay yourself depends on ...