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  2. S corporation - Wikipedia

    en.wikipedia.org/wiki/S_corporation

    An S corporation may only have one class of stock. [12] A single class of stock means that all outstanding shares of stock confer "identical rights to distribution and liquidation proceeds," i.e. profits and losses are allocated to shareholders proportionately to each one's interest in the business. § 1.1361-1(l)(1).

  3. Section 831 (b) - Wikipedia

    en.wikipedia.org/wiki/Section_831(b)

    Internal Revenue Code (I.R.C.) Section 831(b) is a U.S. tax law that provides specific tax benefits to certain small insurance companies, [1] often referred to as "micro-captives". [2] Established to encourage the formation of small insurance companies, it offers an alternative risk-management solution that can supplement or even replace ...

  4. Corporate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax_in_the...

    The United States taxes foreign (i.e., non-U.S.) corporations differently than domestic corporations. [71] Foreign corporations generally are taxed only on business income when the income is effectively connected with the conduct of a U.S. trade or business (i.e., in a branch). This tax is imposed at the same rate as the tax on business income ...

  5. Corporate tax - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax

    A common form of limitation is to limit the deduction for interest paid to related parties to interest charged at arm's length rates on debt not exceeding a certain portion of the equity of the paying corporation. For example, interest paid on related party debt in excess of three times equity may not be deductible in computing taxable income.

  6. Heads up if you’re a freelancer or small business owner: The ...

    www.aol.com/heads-freelancer-small-business...

    The rule change will affect far more people, however, because it both eliminates the number-of-transactions threshold and drastically lowers the dollar-limit threshold to more than $600 for all ...

  7. Tax breaks after 50 you might not know about - AOL

    www.aol.com/finance/tax-breaks-after-50-you...

    Here are additional 2024 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,550 per person over 65.

  8. Alternative minimum tax - Wikipedia

    en.wikipedia.org/wiki/Alternative_minimum_tax

    Each year, high-income taxpayers must calculate and then pay the greater of an alternative minimum tax (AMT) or regular tax. [9] The alternative minimum taxable income (AMTI) is calculated by taking the taxpayer's regular income and adding on disallowed credits and deductions such as the bargain element from incentive stock options, state and local tax deduction, foreign tax credits, and ...

  9. Some might see a bigger 2024 tax refund after inflation ...

    www.aol.com/finance/might-see-bigger-2024-tax...

    Standard deduction increases for tax year 2023. The standard deduction, which 90% of taxpayers choose over itemizing their taxes, is also getting an inflation boost.. Married couples filing ...

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