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 ...

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 ...

Then, when the shareholder dies, the corporation uses the proceeds of that life insurance policy to purchase the shares from the shareholder’s estate. That way, the remaining shareholders (often ...

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 ...