Blog Archives

Missing the July 15 Deadline

For those who missed the July 15 tax deadline, some taxpayers may have extra time to file and pay any taxes due without penalties and interest. These include: Members of the military who served or are currently in a combat

Posted in IRS, Taxes

Converting an LLC to an S Corporation

Maybe your business situation has changed and now you need to change your entity from a Limited Liability Company to an S Corporation. Below are 2 options for converting your LLC to an S Corporation: –Change ONLY the tax status

Posted in Colorado, Taxes

S Corporation Taxes

Much like owners of a partnership, shareholders of an S-corporation are taxed on their allocated share of the business’s profits — no matter whether or not those profits were actually distributed to them. The main reason for being recognized as

Posted in Colorado, Taxes

S Corporations

An “S Corporation” is a for profit corporation which elects to be treated as an S Corporation.  S Corporations typically do not pay taxes and instead file an informational return Form 1120S showing net profit or loss which flows through

Posted in Colorado, Taxes