An S Corporation is an IRS tax classification that allows an eligible entity to be a pass-through entity for tax purposes. This means that the business owners will report their share of business ...

For a number of years, taxpayers, the IRS and the courts have disagreed about the proper treatment of S corporations that have cancellation-of-debt (COD) income and are insolvent. Recently the U.S.

Filing taxes for your LLC as an S Corp allows an owner-operator to designate him- or herself as an employee of the LLC yet to still report the income of the business on their personal tax return. S ...