If your business is organized as a sole proprietorship or a wholly owned limited liability company, you’re subject to both income tax and self-employment (SE) tax. There may be a way to cut your tax bill by operating as an S corporation. SE tax is imposed on 92.35% of SE income at a 12.4% rate
S Corporation Archives - Crawford Ellenbogen
Jun 16, 2021
Dec 17, 2019
2020 Q1 tax calendar: Key deadlines for businesses and other employers
- By Ellenbogen
- Business
- 0 Comments
Feb 27, 2019
Beware the Ides of March — if you own a pass-through entity
- By Ellenbogen
- Business, Taxes
- 0 Comments
Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March 15, is the federal income tax filing deadline for these “pass-through” entities. Not-so-ancient history Until