Understanding IRS Form 5472 Compliance and Its Effects
For foreign-owned U.S. businesses and certain U.S. corporations with foreign owners, IRS Form 5472 is a critical compliance requirement. Failure to file this form correctly can result in significant penalties and increased scrutiny from the IRS. This article explores the importance of Form 5472, who must file it, and its broader effects on foreign-owned U.S. […]
Why Choosing an S-Corp Is the Right Choice for Your Business: Deadline Looming for 2025 Elections
When starting or restructuring your business, one of the most important decisions you’ll make is selecting the right business entity. The choice of entity can significantly impact your tax liability, legal responsibilities, and the flexibility you have in running your business. Among the options, many small business owners opt for the S-Corp structure due to […]
Maximizing Savings with Home Office Deductions
Working from home has become the new normal for many professionals and business owners. Whether you’re running a business or telecommuting, the home office deduction can help you lower your taxable income and maximize savings. However, understanding the eligibility criteria and calculating the deduction correctly is essential to avoid issues with the IRS. What Are […]
