0
Here is a wonderful site that compares prices and features of the top ten tax software currently available: http://tax-software-review.toptenreviews.com/
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Tax Software Specifically for S Corporations?
An S Corporation is a legal business structure that individuals can form in the United States. S Corporations have specific tax laws that differ from other business structures. S Corporation tax software can help the members of an S Corporation prepare their tax returns according to the rules of the IRS. Many popular tax software companies offer S Corporation tax software, along with guides on how to use the software and resources that S Corporations can use to understand applicable tax laws.
What is the best S Corporation tax software?
The S Corporation tax software that are available can be found on any department store website. One of the good department store websites to visit for tax software is Office Max.
How can I purchase the s corporation tax software?
You can buy the s corporation tax software at Taxact.com, H&R block, or Turbotax.com They even have a number to reach a support person if you get stuck and need help.
Is there a tax software that I can use to file my S Corporation Tax Return?
Turbo Tax is the software product my husband and I have used for the past three years. I find it easy to follow with its step by step instructions. According to them they are the best selling tax software. They offer many tax preparations. You can find them at turbotax.com or buy it from Best Buy.
Do you have to pay self employment tax with a subchapter S corporation?
Distributions from an S-Corporation generally are not subject to self-employment tax.
Where can I find corporation tax software that's easy to use?
www.corptax.com offers software for corporation taxes that is reasonable to use, and is currently available. They also offer customer service for those that have questions about using the software.
What type of corporation that benefits the public and receives a tax break?
an s corp-or special corporation
What type of corporation benefits the public and receives a tax break?
an s corp-or special corporation
What is an advantage of corporation?
The net income of an S-Corporation are taxed to the end of the S-Corporation's fiscal year as part of the income taxes that are paid during the shareholders tax year in which the S-Corporation completes its fiscal year. This provides a benefit of avoiding the corporation "double-tax". That is, with other types of corporations, the corporation pays the taxes directly. Then, when you sell your stock in the company the increased value of the stock is taxed again. When you sell an S-Corporation stock, you are not taxed on the gain as a stockholder because the tax was already paid when the corporation reported income. The corporate tax rate is also usually higher than the highest individual tax rates. If the tax is paid through an individuals income tax, the overall tax paid as a percentage of the corporations income is lower than it would be under other types of corporations. An S-Corporation also has an added benefit when it takes a loss for the fiscal year. With other types of corporations, usually a loss results in zero tax. With an S-Corporation, the loss is passed to the shareholders who can deduct the loss from their income for individual income tax purposes, resulting in a lower tax for the individual.
Where can I find information about corporation tax for an S corporation?
There are many websites available that details about S corporations and its corporation tax. One website you should visit is www.irs.gov/businesses/small/article/0,,id=98263,00.html
What is the difference between a c corp and a s corp?
C vs S is an election made by a corporation in regards to how it wants to be taxed. A C corporation files a tax return and pays tax based on corporate tax rates. An S corporation files a tax return; however, the profit or loss passes through to the owner or partners personal tax return and tax is paid at the personal rate. Obviously, only a private closely held corporation can elect S status. The state tax treatment for an S-corp may be different than the federal treatment. You could have a corporation which has elected S status for federal taxes and C status for state taxes. The subchapter-S election is merely a tax classification, not a legal entity formation difference.
What is the major advantage of S corporations?
The net income of an S-Corporation are taxed to the end of the S-Corporation's fiscal year as part of the income taxes that are paid during the shareholders tax year in which the S-Corporation completes its fiscal year. This provides a benefit of avoiding the corporation "double-tax". That is, with other types of corporations, the corporation pays the taxes directly. Then, when you sell your stock in the company the increased value of the stock is taxed again. When you sell an S-Corporation stock, you are not taxed on the gain as a stockholder because the tax was already paid when the corporation reported income. The corporate tax rate is also usually higher than the highest individual tax rates. If the tax is paid through an individuals income tax, the overall tax paid as a percentage of the corporations income is lower than it would be under other types of corporations. An S-Corporation also has an added benefit when it takes a loss for the fiscal year. With other types of corporations, usually a loss results in zero tax. With an S-Corporation, the loss is passed to the shareholders who can deduct the loss from their income for individual income tax purposes, resulting in a lower tax for the individual.
