Small C and S Corporations: Avoiding IRS Suspicions of Improper Personal Gain, Vol. 205

Book Description
Owners of small C & S corporations will learn how to emerge from IRS suspicions of improper personal gains when conducting businesses as private entities. This book examines the characteristics of a bona fide corporation with annual gross receipts under 5 million. These businesses, known as small C or S corporations, can play a vital role in the enhancement of personal wealth by those owners who are prudent and visionary-provided such owners observe the tax laws. Topics covered in this book include accounting consistency and methods; the omens of undercapitalization; the importance of balance sheets and C vs. S treatment of retained earnings; expenditures that are expressly not deductible; and "tax basis" establishments in each share of stock held. Featured in detail are explanations of sections of the tax code and rules of the Securities and Exchange Commission.


Book Info
Contains information not found in IRS publications, FedWorld online services, or tax software programs, covering the characteristics of a corporation with annual gross receipts under 5 million dollars. Discusses the various tax situations and deductions that apply to a C and S company of that type. Softcover.


About the Author
Holmes F. Crouch has been an IRS-licensed tax practitioner and consultant for over 25 years. He lives in Saratoga, California.


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Owners of small C & S corporations will learn how to emerge from IRS suspicions of improper personal gains when conducting businesses as private entities. This book examines the characteristics of a bona fide corporation with annual gross receipts under $5 million. These businesses, known as small C or S corporations, can play a vital role in the enhancement of personal wealth by those owners who are prudent and visionary-provided such owners observe the tax laws. Topics covered in this book include accounting consistency and methods; the omens of undercapitalization; the importance of balance sheets and C vs. S treatment of retained earnings; expenditures that are expressly not deductible; and "tax basis" establishments in each share of stock held. Featured in detail are explanations of sections of the tax code and rules of the Securities and Exchange Commission.


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