The use of QSubs in S corporation tax planning

The use of QSubs in S corporation tax planning

Understand the opportunity and know the potential pitfalls

Mark A. Sellner, CPA, JD, LLM (taxation), adjunct professor, University of St. Thomas Law School

Note: This article originally appeared in the October 2012 Footnote. Due to popularity of the topic, it has been reviewed by Mark Sellner and re-posted in October 2015.

When there is a business...

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Website: http://www.mncpa.org

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ATO lodgement dates 2015-16 - East Coast Accountants

August monthly activity statement - due date for lodging and paying.

30�September

Due date for lodging the PAYG withholding payment summary annual report for payers whose registered agent (BAS agent or tax agent) helped prepare the report.

If a payer has only closely held payees and their tax agent helps prepare their report, they may be eligible for a concession to lodge this report by the due...

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Date: 2018-03-14 08:11:48
Website: http://www.eastcoastaccountants.com.au

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S-Corporations FAQ – Alabama Department of Revenue

Does Alabama recognize the federal election to be treated as an S corporation?

Yes, use Form 20S.

When is the S corporation return due?

The return is due the 15th day of the third month following the end of the S corporation tax period.

Does Alabama accept the federal extension for S corporations?

If an extension has been granted for federal purposes, the extension is also granted for Alabama...

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Website: https://revenue.alabama.gov

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How to Register for New York State Sales Tax

How to Register for New York State Sales Tax

Tax Bulletin ST-360 (TB-ST-360)

Printer-Friendly Version (PDF) Issue Date: September 2, 2011

Introduction

If you will be making sales in New York State that are subject to sales tax, you must register with the Tax Department and obtain a Certificate of Authority. The Certificate of Authority gives you the right to collect tax on your taxable sales and...

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Website: https://tax.ny.gov

Lodgement Dates - AtoTaxRates.info

You are here: Home / Lodgement Dates

Tax�Return Lodgment Due Dates

The general deadline for the lodgement of self-prepared individual, partnership and trust income tax returns is�31 October.

In general, where the due date falls on a weekend or public holiday, it is moved to�the next business day.

If an extension of time is needed to lodge a tax return, the�Tax Office should be contacted...

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Website: https://atotaxrates.info

What Is the Minimum Income to Pay Taxes? | Pocketsense

What Is the Minimum Income to Pay Taxes?

By: Tara Thomas

-> Learn More

How much money can you make without having to pay taxes, on the surface, seems like a pretty straightforward question. But reality is, the answer isn't nearly as clear-cut as it appears it should be. Because the IRS uses several factors to determine the minimum income to pay taxes based on criteria such as your age, filing...

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Website: https://pocketsense.com

What small business owners need to know about the new ...

What small business owners need to know about the new Digital Personal Tax Accounts

What small business owners need to know about the new Digital Personal Tax Accounts

December 6, 2016

For millions of UK small businesses, 'tax season' represents a costly, time-consuming inconvenience. But Britain's tax landscape is transforming: in March 2015, HMRC announced its plan to update the self assessment...

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Date: 2018-01-16 17:23:53
Website: bytestart.co.uk

Payment Options – Alabama Department of Revenue

Payment Options

Payment Options

Find information on how to pay Individual and Corporate Income Taxes and what options are available to make a payment. In some situations, you can mail in payments for select tax types.

Access the list of mailing addresses to determine where to mail by form type. Payments for Billing Letters, Invoices, or Assessments should be mailed to the address found on the...

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Website: https://revenue.alabama.gov

Tax Reporting Information Center | Baird

Foreign person with U.S. sourced income 

March 15

Notice to Shareholder of Undistributed Long-Term Capital Gains

April 1

Coverdell Education Savings Account (ESA) contributions and rollovers

April 30

Total annual contributions to an IRA

May 31

Convenient Access to Your Tax Documents

Baird offers a variety of methods to access your tax documents (in addition to copies received in the mail).

Baird...

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Website: http://www.rwbaird.com

Oklahoma Tax Commission - Income Tax Corporate

Business Tax Types: Income Tax Corporate

This information is designed to assist business people and people thinking about operating a business in Oklahoma. What follows is meant to be basic, introductory information and should not be considered the final word in business taxes in Oklahoma. For further information, please contact one of our Taxpayer Assistance Offices or attend one of our Business...

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Date: 2017-05-08 20:04:48
Website: ok.gov

Related topics : corporate tax return filing due date / corporation income tax return / corporate tax return due dates by state / individual income tax return due date / corporate tax return filing dates

Consolidated 1099 Tax Statement Questions | Edward Jones

Why is my 1099 not final?

Brokerage firms do not receive final tax distribution information for some securities until after February 15, so Consolidated 1099 Tax Statements sent to holders of these securities prior to Edward Jones receiving this final data are marked "Figures Not Final." We may still be waiting for final allocation information from some issuers of mutual funds, REITs, CMO/REMICs...

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Website: edwardjones.com

Other policy matters | Tax Policy, Inland Revenue

ANNUAL SETTING OF INCOME TAX RATES

(Clause 3)

Summary of proposed amendment

The Bill sets the annual income tax rates that will apply for the 2017-18 tax year. The annual rates to be confirmed are the same that applied for the 2016-17 tax year.

Application date

The provision will apply for the 2017-18 tax year.

Key features

The annual income tax rates for the 2017-18 tax year will be set at the...

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Date: 2018-03-23 05:48:36
Website: http://taxpolicy.ird.govt.nz

Property Transfer Tax Act - Laws Publications

Fair market value of land with industrial improvements

1.1 � (1) For the purposes of a transaction referred to in paragraph (a) (i), (iii) or (iv) of the definition of "taxable transaction",

(a) if

(i) the transferor is the government, or

(ii) the transfer is between associated corporations within the meaning of section�256 of the Income Tax Act (Canada), and

(b) the land being transferred...

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Date: 2018-03-23 04:07:37
Website: http://www.bclaws.ca

KCMO.gov » Tax Home

Quick Tax is an online system KCMO taxpayers may use to file tax returns, make payments, register a business, view and make changes to their accounts with the City and view notices and letters sent by the City.

Watch short how-to videos and begin using Quick Tax today!

Tax Administration

The Revenue Division administers several taxes and licenses, including Earnings Tax (for�individuals and...

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Website: http://kcmo.gov

Taxation of Foreign Branches after Tax Reform - McDermott ...

A domestic corporation may operate in a foreign country through an actual foreign branch, or may own a foreign entity that is classified as a disregarded entity and treated as a foreign branch for US tax purposes. As a general rule, a foreign branch for US tax purposes is a division which operates a trade or business in a foreign country and maintains a separate set of books and records. The...

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Website: https://www.mwe.com

Related topics : irs foreign income tax calculator / foreign tax return / income tax rate calculator / income tax return home loan interest / income tax return loan 2017

Interstate Tax Corporation Interstate Tax Planning

No prerequisites or advance preparation required.

o

NASBA Recommended Fields of Study: Taxes, Regulatory Ethics.

o

Estimated continuing education credit: 24.5 based on a 50 minute hour, including 1 hour for ethics; 20.58 based on a 60 minute hour, including 1 hour for ethics.

Jurisdiction and Nexus: Constitutional limitations on state powers to tax interstate business....

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Website: http://www.interstatetaxcorp.com

Home - Bureau of Internal Revenue

TRAIN

Regulations implementing the VAT provisions under the Train Law.  RR 13-2018

Consolidated Rules and Regulations on Estate Tax and Donor's Tax pursuant to the TRAIN Law.  RR 12-2018

Amends certain provisions of RR No. 2-98 to implement further amendments pursuant to TRAIN Law relative to withholding of Income Tax.  RR 11-2018

Creation of ATC for the remittance of Creditable/Final Income...

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Website: bir.gov.ph

Dealing with Tax Arrears & Revenue Canada Debt - Take ...

Many self-employed people, presently or in the past, have accumulated tax arrears at some point. The CRA has strong powers to make sure they collect what people owe.

They charge penalties and interest on all tax arrears.

They can withhold child tax credits and GST credits until the arrears are paid.

They can take money from your bank account or your paycheque (through a garnishee).�

What's...

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Website: http://albertalending.ca

Corporate Income Tax FAQ – Alabama Department of Revenue

What is the mailing address for returns (20C and 20C-C) with federal audit changes?

Alabama Department of Revenue

Individual and Corporate Tax Division

Corporate Compliance Section

Estimated Tax Payments

Does Alabama require estimated tax payments?

Yes. If your tax liability is $500 or more you are required to make estimated tax payments. Please refer to  Alabama Code Section 40-18-80.1  for...

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Website: https://revenue.alabama.gov

Tax Center - Putnam Investments

Developing a tax-smart retirement income strategy (PDF)

Select a form:

Putnam's consolidated Form 1099-Div lists all taxable dividends, exempt interest dividends, and qualified dividends. It will also list capital gain distributions, nondividend distributions, federal income tax withheld, foreign tax paid and specified private bond activity. The dividends and capital gains shown on Form 1099-DIV...

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Website: https://www.putnam.com

Job search - Chartered Accountants Ireland

Updated 2/April/2019

Cork

Our client is an SME in Cork with growing international sales seeking a financial controller to run the weekly / monthly accounting of this EUR19M turnover business. You will : need to have trained in audit, this will be a benefit for preparing filesneed to be prepared to do book-keeping (low transactions/month) and also reconciling accountshave experience working in...

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Website: https://www.charteredaccountants.ie

Related topics : tax audit return filing process / corporate tax return filing deadlines / corporate tax return filing / tax return filing preparation / company tax return filing deadline

Commission proposes major corporate tax reform for the EU

The Commission has today announced plans to overhaul the way in which companies are taxed in the Single Market, delivering a growth-friendly and fair corporate tax system.

© European Union 2016

Re-calibrated as part of a broader package of corporate tax reforms, the Common Consolidated Corporate Tax Base (CCCTB) will make it easier and cheaper to do business in the Single Market and will act as...

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Website: europa.eu

Related topics : company tax return filing deadline / corporate tax return filing deadlines / corporate tax return filing / corporation income tax return / company tax return

TITLE 8 - CHAPTER 5. CORPORATION FRANCHISE TAX

CHAPTER 5. CORPORATION FRANCHISE TAX

§ 501 Corporations subject to and exempt from franchise tax.

(a) Every telegraph, telephone or cable company, every electric company organized for the production and/or distribution of light, heat or power, every company organized for the purpose of producing and/or distributing steam, heat or power, every company organized for the purpose of the production...

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Website: http://delcode.delaware.gov

Corporate Income Tax Fundamentals | Knowledge Bureau

PROGRAM: Business Services Specialist

Learn to prepare a T2 corporate return for your small business clients.

The focus of this course is to provide the preparer with an understanding of the business issues and tax options that underlie the taxation of corporate income, so that the return can be prepared accurately, tax is minimized and planning opportunities are identified on a timely...

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Date: 2019-03-24 06:24:24
Website: http://www.knowledgebureau.com

Related topics : income tax return small business / t2 corporation income tax return / corporation income tax return / business income tax return / tax return small business canada

The University of Tampa - Financial Aid - Frequently Asked ...

How do I apply for financial aid at The University of Tampa? | Back to top.

The only application needed to apply for financial aid is the Free Application for Federal Student Aid ( FAFSA ). The FAFSA is available online at www.fafsa.gov and should be completed soon after Oct. 1 for entry in the following academic year. Add UT's school code 001538 to the list of schools at the end of the FAFSA to...

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Website: http://www.ut.edu

Montgomery County Maryland

Montgomery County Issues Update on Prepayment of 2018 Real Property Taxes

For Immediate Release: Thursday, December 28, 2017

The Internal Revenue Service issued an Advisory on December 27, 2017, that states, "A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017."�Montgomery County tax assessments are made each July--the 2018 tax assessment will be made in July 2018.

Please see the guidance from the IRS� here .

The County continues to advise taxpayers to consult their own tax advisor about the tax consequences of making a prepayment of the taxpayer's 2018...

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Website: www2.montgomerycountymd.gov

Related topics : will county property tax prepay / maryland montgomery county property tax / will county property tax assessment / will county property tax bill / property tax montgomery county

Montgomery County Maryland

Montgomery County Issues Update on Prepayment of 2018 Real Property Taxes

For Immediate Release: Thursday, December 28, 2017

The Internal Revenue Service issued an Advisory on December 27, 2017, that states, "A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017."�Montgomery County tax assessments are made each July--the 2018 tax assessment will be made in July 2018.

Please see the guidance from the IRS� here .

The County continues to advise taxpayers to consult their own tax advisor about the tax consequences of making a prepayment of the taxpayer's 2018...

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Website: www2.montgomerycountymd.gov

Related topics : will county property tax prepay / maryland montgomery county property tax / will county property tax assessment / will county property tax bill / property tax montgomery county

TITLE 30 - CHAPTER 19. CORPORATION INCOME TAX

Income, Inheritance and Estate Taxes

CHAPTER 19. CORPORATION INCOME TAX

§ 1901 Definitions.

As used in this chapter:

(1) "Administration services" means, in each case with respect to intangible investments (as such term is defined in § 1902(b)(8) of this title):

a. Clerical;

g. Regulatory compliance, operations and related services;

h. Risk analytics; and

i. Trade processing, clearing and...

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Website: http://delcode.delaware.gov

Capital Gains – 2017 - Canada.ca

Capital gain (line A minus line D)

 

= $2,440

E

Because only 1/2 of the capital gain is taxable, Mario completes Schedule 3 and reports $1,220 as his taxable capital gain on line 127 of his income tax and benefit return.

When you sell, or are considered to have sold, a capital property for less than its ACB plus the outlays and expenses incurred to sell the property, you have a capital loss. You...

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Date: 2018-03-23 02:55:01
Website: https://www.canada.ca