Tax Attorney In Oregon Or Washington; Does A Small Company Have One: Difference between revisions
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Latest revision as of 12:22, 7 September 2026
anthonyveder.com Even as many individuals breathe a sigh of relief following an conclusion of the tax period, men and women foreign accounts along with foreign financial assets may not yet be through with their tax reporting. The Foreign Bank Account Report (FBAR) is due by June 30th for all qualifying citizens. The FBAR is a disclosure form that is filled by all U.S. citizens, residents, and U.S. entities that own bank accounts, are bank signatories to such accounts, or possess a controlling stakes a minimum of one or many foreign bank accounts physically situated outside the borders of us states.
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There are two basic forms, C Corp and S Corp. A C Corp pays tax as reported by its profit for the majority and then any dividends paid to shareholders can also taxed. Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The profit flows through to the shareholders who then pay tax on that money. The big anjing extra that the 15.3% self-employment tax does not apply. So, by forming an S Corporation, your small saves $3,060 for this year on a nice gain of $20,000.
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