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Stephen Nelson's Articles in Taxes

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When Do I Have to Pay Income Tax on My S Corporation? S corporations are designed to avoid corporate income tax, but in some cases even S corporation owners will have to pay income tax on their business. Learn when this is the case and how to avoid such taxes from Seattle CPA and bestselling author Step Maximizing Your S Corporation Tax Benefits through the Recesssion S Corporations now count as the most popular incorporation choice for small business corporations. But while the S corporation classification saves entrepreneurs taxes in a healthy economy, business owners need to take several tax planning precautions in a recession, as this article explains. Tax Myths about Incorporating a Small Business New business owners sometimes believe the goofy urban myths about how incorporation can save the small business entrepreneur income taxes. In this short article, CPA and tax professor Stephen L. Nelson explains which bits of tax law lore are false and shouldn't be used in making the decision to incorporate. The Successful C Corporation Owner's Tax Blunder Successful business owners operating as C corporations often make a terrible tax blunder--they decide to do their investing inside the business. A tax professor and CPA explains why this mistake is such an expensive error--and what the business owner can do to correct the problem.