Right about now, many of you are probably saying “Not again,” or “not another,” in reaction to the title of this post. I suspect that, for many of you, this is the umpteenth article you’ve encountered on the “S vs C” saga[i] that was reinvigorated following the enactment of the Tax Cuts and Jobs
Debt . . . Worthless Debt . . . No Debt at All?
By Farrell Fritz P.C. on
Posted in Federal Tax Issues
It is said that repetition is the mother of all learning. It is also said that insanity is repeating the same mistake and expecting a different result. It is my hope that the result of the former will overwhelm the source of the latter before it is too late.
However, based upon the seemingly continuous…
From “S” to “C” to “S,” or, “But I Was Already Taxed On That”
By Farrell Fritz P.C. on
Posted in Federal Tax Issues
It is relatively easy for an S corporation to inadvertently lose its tax status. For example, a disgruntled shareholder may transfer all or a portion of his or her shares to a person that is not qualified to hold S corporation shares, such as a C corporation or a nonresident alien. Upon the occurrence of…