Posts Tagged Houston CPA

IRS Adopts “Taxpayer Bill of Rights”

This week the Internal Revenue Service announced the adoption of a “Taxpayer Bill of Rights” that will become the primary document to provide U.S. taxpayers with a better understanding of their rights. The Taxpayer Bill of Rights takes the multiple existing rights embedded in the tax code…

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Two Important Factors used to Determine Reasonable Compensation for S Corporation Shareholders

Taxable income as calculated on the U.S. Federal Return for an S corporation flows through to its shareholders and is taxed at the individual level, not subject to self-employment tax. Because the income from the S Corporation is taxed when it is reported on the federal tax return…

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