Are S Corporations Facing Extinction?

Are S Corporations Facing Extinction?

Pedro Gonzalez, CPAAugust 1, 20214 min read

Corporations, limited liability companies, and certain other business entities can make an election with the Internal Revenue Service to be taxed under Subchapter S of the Internal Revenue Code.  If such an election is made, the business entity becomes an…

Deduct 100% of Your Employee Recreation and Parties

Deduct 100% of Your Employee Recreation and Parties

Pedro Gonzalez, CPAMay 26, 20215 min read

  You take Bill, your best customer, to the local country club and treat him to 18 holes of golf. The golf produces a zero deduction. However, if you take your employees and their spouses and children to the local…

IRS Penalty; Secrets to the IRS Forgiveness Process

IRS Penalty; Secrets to the IRS Forgiveness Process

Pedro Gonzalez, CPAFebruary 4, 202110 min read

Uh-oh! In your mailbox, you found that dreaded envelope—the one from the IRS. Inside the envelope, you find a notice from the IRS informing you that it assessed additional tax, penalties, and interest on your tax return from two years…

Did You Report Your Foreign Bank Accounts?

Did You Report Your Foreign Bank Accounts?

Pedro Gonzalez, CPAJanuary 11, 20214 min read

If you own or have an interest in any foreign bank account or other types of financial accounts (see below for examples of the other types) that are based outside of the United States, you may have to fill out…

Updated PPP Rules

Updated PPP Rules

Pedro Gonzalez, CPAJanuary 8, 20215 min read

The new Paycheck Protection Program (PPP) law enacted with the stimulus package adds dollars to your pockets if you have or had PPP money.   Before we go further, please note the PPP money comes to you in what appears…

Tax Related Posts

In this section all posts are tax related

Are S Corporations Facing Extinction?

Corporations, limited liability companies, and certain other business entities can make an election with the…

ByByPedro Gonzalez, CPAAugust 1, 2021

Deduct 100% of Your Employee Recreation and Parties

  You take Bill, your best customer, to the local country club and treat him…

ByByPedro Gonzalez, CPAMay 26, 2021

IRS Penalty; Secrets to the IRS Forgiveness Process

Uh-oh! In your mailbox, you found that dreaded envelope—the one from the IRS. Inside the…

ByByPedro Gonzalez, CPAFebruary 4, 2021

Did You Report Your Foreign Bank Accounts?

If you own or have an interest in any foreign bank account or other types…

ByByPedro Gonzalez, CPAJanuary 11, 2021

The IRS Strikes Back!

On November 18, 2020, the IRS released Rev. Rul. 2020-27 and Rev. Proc. 2020-51 providing…

ByByPedro Gonzalez, CPANovember 19, 2020

How Many Whole or Partial Rooms Can You Use For Your Home Office?

With the COVID-19 pandemic still going on, you may be spending more time working from…

ByByPedro Gonzalez, CPANovember 11, 2020
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Updated PPP Rules

The new Paycheck Protection Program (PPP) law enacted with the stimulus package adds dollars to…

ByByPedro Gonzalez, CPAJanuary 8, 2021

Did You Miss Out On The Previous PPP Opportunities?

Did you miss out on the first two opportunities to receive your tax-free Paycheck Protection…

ByByPedro Gonzalez, CPAJanuary 4, 2021

The IRS Strikes Back!

On November 18, 2020, the IRS released Rev. Rul. 2020-27 and Rev. Proc. 2020-51 providing…

ByByPedro Gonzalez, CPANovember 19, 2020

What is Financial Forecasting? And Why Should You Care?

Financial forecasting is the process of predicting the future outcome of economic, marketing, and financial…

ByByPedro Gonzalez, CPANovember 17, 2020
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Post Grid #2

Are S Corporations Facing Extinction?
Deduct 100% of Your Employee Recreation and Parties
IRS Penalty; Secrets to the IRS Forgiveness Process
Did You Report Your Foreign Bank Accounts?
Updated PPP Rules
Did You Miss Out On The Previous PPP Opportunities?
The IRS Strikes Back!
What is Financial Forecasting? And Why Should You Care?
How Many Whole or Partial Rooms Can You Use For Your Home Office?