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So far Sonya Foster has created 875 blog entries.

Making Withdrawals From Your Closely Held Corporation That Aren’t Taxed as Dividends

Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient since it’s taxable to you to the extent of your corporation’s “earnings and profits.” It’s also not deductible

2022-03-15T09:38:55-06:00March 15th, 2022|

Are you ready for the new disclosure requirements for government assistance?

Starting in fiscal year 2022, all entities — except nonprofit organizations in the scope of Topic 958, Not-for-Profit Entities, and employee benefit plans — must provide detailed disclosures about government assistance. Here are the details of the new rules. Defining Government Assistance The term “government assistance” may refer to perks and

2022-03-08T09:30:05-07:00March 8th, 2022|

The Ins and Outs of IRAs

Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview. Traditional IRAs You can make an annual deductible contribution to a traditional

2022-03-08T08:47:37-07:00March 8th, 2022|
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