Ralph D. Chipman, C.P.A. / Management Consultant, LLC

Description

A crucial aspect of your business success depends on thorough and accurate financial record keeping. Accurate records help to provide information to operate efficiently as well as allow you to identify all your business assets, liabilities, income and expenses. This data will help you locate both strong and weak cycles of your business.

This segment of the business strategy should contain information about the company and its objectives. Detail the experience within your company and the structure of management and legal status. State what your business has to get ahead of the competition.

Typically, yes because it is considered income with regards to the decedent. The tax is due by the recipient because the deceased had not paid the distribution's income tax. You may be entitled to a deduction for a segment of the estate taxes paid, if the account's value was incorporated in the estate tax return of the decedent.

Every corporation begins as a "C" corporation and must pay income tax on the taxable income made by the corporation. After filing federal form 2553 with the IRS, a "C" corporation becomes an S corporation. The net income or loss of an "S" corporation is included in their personal tax returns and are "passed-through" to the shareholders. There is no double taxation as with "C" corporations because income tax is not taxed at the corporate level. Also known as Subchapter "S" corporations, they are limited to 100 shareholders.

Our mission, as accountants in Salt Lake City, is to help clients increase financial viability through successful business strategies and reduced taxes through wise tax planning, efficient preparation and effective representation. Our accountants will help you receive guidance in running your business, avoid dangers and pitfalls, increase profits, become more efficient, and enhance your opportunities for success. Ralph D. Chipman, CPAs / Business Consultants, LLC is dedicated to meeting these goals with the high standards of excellence and professionalism that our accountants posses.

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