Tax Warrior Chronicles

Estimated Tax Payments for Individuals – The Who, What, When and Why

Posted on Thu, May 25, 2017

By: Tiffany Diaz, CPA

 

In today’s edition of the Tax Warrior Chronicles, we will explain when it is necessary to make estimated tax payments and the rules for paying the minimum amount of estimated tax without triggering the penalty for underpayment. There is a lot to know, so put on your learning caps.

Read More

S Corp Shareholders Not Entitled to Basis for Guaranteeing Corporation Loans

Posted on Tue, Oct 29, 2013

There was a recent Tax Court Memorandum (T.C. Memo 2013-151) addressing S Corporation basis limitation (issue #2) of S-Corporation owners.

Read More

2013 Year-end Tax Planning: When C Corps Should Defer or Accelerate Income

Posted on Mon, Oct 28, 2013

As year-end approaches, most clients ask what is on the tax horizon for 2014. Tax discussions in Washington continue and some are predicting the possibility of higher taxes. But honestly, no one really knows. So for now, effective tax planning strategies focus on the mantra“if you can’t eliminate or reduce the tax, the next best thing is to defer it.”  This includes C Corporations, which, like individuals, should decide when and how to structure transactions of income and deductions between 2013 and 2014 based on current tax laws.

Read More