Tax Tips


Tax Tips

Deadline for Corporations Making the S-Corp Election is Approaching

Existing corporations that are eligible to elect to be treated as an S corporation need to file Form 2553, Election by a Small Business Corporation by March 15.  The income of an S corporation generally is taxed to the shareholders of the corporation rather than to the corporation itself. In order to make the election, the entity needs to meets all of the…
Tax Tips

Military Appreciation Month – Tax Benefits and Credits for Veterans and Active Duty

Military Veterans and Active Duty Personnel may qualify for special tax benefits. It is important for you to understand what is excluded from income, what is taxable, and what credits veterans can claim. Below you will find some highlighted points on the matter. For more information about these benefits and credits please visit Tax Information for Members…