The S Corporation - A Small Business Alternative

Article Abstract:

Proper knowledge and use of tax laws can do as much to make a business successful as proper management. Traditionally, there were two types of business arrangements available: a corporation or a partnership, each with its own advantages and disadvantages. But, now there is a new option available for those who qualify, which combines many of the legal protections of a corporation with the tax advantages of a partnership. Only certain types of operations can qualify to be S corporations, and they must continue to meet the requirements to remain an S corporation, but the benefits can be many for businesses just getting started.

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Business and taxes: corporate provisions of Treasury II

Article Abstract:

Treasury II, President Reagan's proposed tax reforms, are analyzed, by example, in this concluding article in a two-part series. Lowering the highest graduated corporate tax rate from 45 to 33 percent, as proposed by Treasury II, is intended to promote corporate investments with tax dollars saved; however, the reduced tax rate will be offset for most corporations by Treasury II's eliminations of tax credits and deductions, which will eat up tax savings and prevent increased corporate investment activity. The economic effects of Treasury II's uniform tax proposals related to retirement plans are also examined.

Economic aspects, Tax reform, Pension funds

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Your Personal Income Taxes and the New Law

Article Abstract:

While the administration claimed that the 1982 Tax Equity and Fiscal Responsibility Act would generate revenue by closing up tax loopholes and changing corporate tax regulations, there were changes made which also affect individual taxpayers. There are two areas within the new tax provisions which are likely to affect taxpayers - the add-on and the alternative minimum tax, and reduction in medical and casualty loss deductions. However, there are some changes, such as those affecting private retirement plan contributions, which will benefit many taxpayers.

Laws, regulations and rules, Income tax

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