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Does the New Tax Law Make Entity Selection More Complicated?
Posted by Leigh Nali on Tue, Mar 27, 2018 @ 04:20 PM

The new corporate tax rate is one of the hallmarks of the tax legislation introduced as the Tax Cuts and Jobs Act (TCJA). At a flat 21 percent, it represents a double-digit decrease from the previous top rate of 35 percent. Pass-through entities, such as partnerships, LLCs, and sole proprietorships also benefit from reductions in their tax rates. The top individual tax rate drops from 39.6 percent to 37 percent and business owners may be able to take advantage of the new 20 percent deduction under Internal Revenue Code Section 199A on qualified business income. On its face it may appear that the corporate structure is the best option, however, you need to dig deeper to conclude on that.

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Topics: S Corporation, entity structure, Tax Cuts and Jobs Act, TCJA, Leigh Nali, C Corporation

The FASB Asks - Will Your Entity Continue as a Going Concern?
Posted by John Cronin on Wed, Dec 17, 2014 @ 09:02 AM

The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15 requires management to evaluate whether substantial doubt exists that an entity will be able to continue as a going concern and defines, for the first time in US GAAP, the key terminology and responsibilities of management related to an entity's ability to continue as a going concern.

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Topics: John Cronin, FASB, entity structure, going concern

Which Entity Structure is Right for You and Your Business?
Posted by Kristen Shepley on Mon, Feb 24, 2014 @ 09:11 AM

Income taxation is one of the most important factors when choosing an entity structure, apart from shielding business owners from liabilities. Whether you are a start-up company or an existing business, selecting the best legal entity for your business affects not only the profitability and operations, but also your taxability, your benefits, your risk exposure and your ability to accumulate wealth as an owner or executive.

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Topics: tax strategies, entity structure

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