Forrest Morrow, CPA’s Post

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications. Follow the link for more info! https://lnkd.in/gMQMsyKT

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications. Follow the link for more info! https://lnkd.in/gJrpjfZR

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications. https://bit.ly/2NMIz4g

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications.https://bit.ly/45eUm36

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications.https://bit.ly/45eUm36

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications.https://bit.ly/45eUm36

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications.https://bit.ly/45eUm36

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications. https://bit.ly/3WZwluT

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications. Follow the link for more info! https://lnkd.in/gM7mXkJA

The most common business structures are sole proprietorships, partnerships, LLCs, C corporations and S corporations. Choosing the right entity has many implications, including the taxes you pay. Although S corps may provide tax advantages over C corps in some cases, there are potential tax problems to assess before converting from C to S status. One issue to consider is last-in, first-out (LIFO) inventory. A C corp that uses LIFO must pay tax on the benefits it derived by using LIFO if it converts to an S corp. Other issues are the built-in gains tax, passive income tax and unused net operating losses. If you’re interested in an entity change, contact us to learn about the implications. https://bit.ly/3WZwluT