Owners of small C and S corporations will learn how to emerge from IRS suspicions of improper personal gains when conducting businesses as private entities. This book examines the characteristics of a bona fide corporation with annual gross receipts under $5 million. These businesses, known as small C or S corporations, can play a vital role in the enhancement of personal wealth by those owners who are prudent and visionary-provided such owners observe the tax laws. Topics covered in this book include accounting consistency and methods; the omens of undercapitalisation; the importance of balance sheets and C vs. S treatment of retained earnings; expenditures that are expressly not deductible; and 'tax basis' establishments in each share of stock held. Featured in detail are explanations of sections of the tax code and rules of the Securities and Exchange Commission.
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About the Author
Holmes Crouch and Irma Crouch, Editors
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Most Helpful Customer Reviews
27 of 29 people found the following review helpful:
5.0 out of 5 stars
Good book on incorporating,
By Doug Davidson (USA) - See all my reviews
This review is from: Small C & S Corporations (Series 200: Investors and Business) (Paperback)
If you are interested in starting either a C or a S corporation, you'll love this book. I've bought some other books supposedly written by experts and was dissappointed.Also recommended books include Inc. Yourself, The Small Business Legal Kit by J.W.Dicks and Incorporate for Dummies by The Company Corporation.
12 of 14 people found the following review helpful:
2.0 out of 5 stars
Disappointed on S Corp Coverage,
This review is from: Small C & S Corporations (Series 200: Investors and Business) (Paperback)
I chose this book to get more information on running an S Corporation, and I've been utterly disappointed. The author spends more time telling you the number of words in the tax code then on the meat & potatoes of the information. The chapter on compensation was particularly void of any S Corp information. Overall, I think there are far better sources available.
1 of 1 people found the following review helpful:
4.0 out of 5 stars
Valuable for people who don't know much about corporations,
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This review is from: Small C & S Corporations (Series 200: Investors and Business) (Paperback)
This book provides basic information about C & S corps. It gives a thorough comparison between C & S corps for you to make a educated decision on whether to incorporate as a C or S corp. It also gives you basic info on how to set up an S corp. I used the information from this book to set up an S corp. Great book for the price for the do-it-yourself type person.
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Inside This Book
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First Sentence:
What makes a corporation so different from that of a human being? Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
ordinary gross income, personal holding company income, taxable year, trust fund taxes, controlled foreign corporation, acquiring corporation, status election, foreign trust, founder shares, small business corporation, statutory words, annual accounting period, officer compensation, ownership test, target corporation, trust fund money, accumulated earnings, cash method, complete liquidation Key Phrases - Capitalized Phrases (CAPs): (learn more)
Tax Court, Secretary of State, Internal Revenue Code, Other Information, Certificate of Incorporation, The Appellate Court, Bankruptcy Court, Leonard Pipeline New!
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
What makes a corporation so different from that of a human being? Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
ordinary gross income, personal holding company income, taxable year, trust fund taxes, controlled foreign corporation, acquiring corporation, status election, foreign trust, founder shares, small business corporation, statutory words, annual accounting period, officer compensation, ownership test, target corporation, trust fund money, accumulated earnings, cash method, complete liquidation Key Phrases - Capitalized Phrases (CAPs): (learn more)
Tax Court, Secretary of State, Internal Revenue Code, Other Information, Certificate of Incorporation, The Appellate Court, Bankruptcy Court, Leonard Pipeline New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Citations (learn more)
This book cites 2
books:
- Starting Your Business: Guides to Help Taxpayers Make Decisions Throughout the Year to Reduce Taxes, Eliminate Hassles, and Minimize Professio (Allyear Tax Guides Series 200: Investors & Business) by Holmes F. Crouch in Back Matter
- Life Insurance (Includes Reference Manual and Workbook) by Darwin B. Close on page 155
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