If you’re considering the benefits of an S corporation, grasping S corp taxes is crucial. These taxes allow income, losses, and deductions to pass directly to shareholders, avoiding double taxation. Instead of the corporation paying taxes, you report your share on your personal tax return. This structure can provide significant tax savings, especially regarding self-employment tax on distributions. Nonetheless, there are specific forms and deadlines to keep in mind, which we’ll explore next. Key Takeaways S corporations are pass-through entities, meaning income is taxed at the shareholder level, avoiding double taxation faced by C corporations. Shareholder distributions from S corporations…
Author: Staff Writer
When University of Pennsylvania student Crystal Yang was in high school, she and her friends were avid players of the trendy online game Wordle. One of Yang’s friends, however, is blind and was unable to join in. That inspired Yang, while still a high school student, to work with researchers at Texas A&M University looking at conversational audio interface possibilities for the game. Soon, she founded a nonprofit called Audemy that has developed more than 50 audio-powered games accessible to blind and visually impaired players. The organization is now also at work on an accessible gaming console that will incorporate…
You’re at the playground, making small talk with another mom while your kids dig in the sandbox. The conversation follows a predictable script: sleep schedules, daycare waitlists, whether your toddler will eat anything green. It’s pleasant enough, but you’ll forget about it by the time you pile your kids into the car for nap time. But what you really wanted to ask is: What’s something about birth and postpartum that surprised you? What do you wish your partner understood? How did becoming a mother change your marriage? Those are the conversations that actually matter, because they deepen relationships and allow…
Nvidia has put its name behind a fledgling effort to put mini-data centers beside people’s homes in boxes that look like HVAC units. It’s a “power” play, considering that the main bottleneck to building out more data center capacity is not money or chips, but rather retrofitting the electrical grid to supply the power. The idea, put forward by a California smart utility box company called Span, is to put the GPUs where the power has already been allocated—at the home. Span says the average household uses only about 42% of the electricity allotted to it, and rarely reaches peak…
Below, Joseph Moore shares five key insights from his new book, How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t). Moore is a historian who spent more than a decade researching and testing out what Americans were told to do with their money for the past 300 years. His previous work appeared in such outlets as The New York Times and Oxford University Press. What’s the big idea? History doesn’t give us fixed rules for getting ahead financially. The “right” way keeps changing, so your best bet is to stay flexible, try a…
If you’re looking to start your expedition in bookkeeping, several free online courses can help you gain crucial skills. OpenLearn University’s course covers double-entry principles, whereas Alison offers a Diploma in Effective Bookkeeping. EdX features a course from ACCA that spans six weeks, and AccountingCoach provides in-depth lessons with quizzes for practical comprehension. Even though Coursera‘s professional certificate isn’t entirely free, it offers valuable resources. Discover which option suits you best as you explore these learning opportunities. Key Takeaways OpenLearn University offers a free 8-hour course on bookkeeping basics, ideal for beginners with quizzes and a completion badge. Alison provides…
You are bound to have one of those crazy days (or weeks or months) where your calendar is jammed with meetings, there are looming deadlines, and an emergency has cropped up that absolutely needs to be dealt with right away. Having a few things that hit at the same time can actually be good for you, but eventually, it is going to cause you problems. In particular, the researchers Yerkes and Dodson published a paper in 1908 (you read that right—over 110 years ago) talking about the optimal level of psychological energy called arousal. They suggested that when people have…
There is a pattern within the cost of living series based on a series of factors that directly contribute to the overall economic health of a population. What we are witnessing globally is not random. The same patterns continue to emerge regardless of the country, language, or political party in power. Nations that are expanding their middle class, attracting capital, building infrastructure, and maintaining affordable energy are experiencing economic growth in real time. Nations obsessed with debt expansion, climate extremism, endless war spending, uncontrolled migration, and taxation are watching their standard of living collapse before the public’s eyes. The difference…
If you’re operating a sole proprietorship, comprehension of the current tax brackets is essential for effective financial planning. Your income is taxed at personal rates, ranging from 10% to 37%, depending on your earnings. For single filers, the brackets begin at $11,000, whereas married couples filing jointly start at $22,000. These progressive rates can impact your overall tax liability considerably. Curious about how these brackets might affect your specific situation? Key Takeaways Sole proprietorship income is taxed at personal income tax rates, ranging from 10% to 37% for 2023. For single filers, tax brackets start at 10% for income up…
COMMENT: Mr. Armstrong, we never met. I was introduced to Socrates at the insistence of a friend at another one of our divisions. There was no 80% Crash on April 29. The whole de-dollarization seems to be another hype, as we have witnessed ourselves. Your system allows you to plot anything in any currency. I just have to comment that you are obviously a highly experienced trader, for it takes someone who has thrown their hat in the ring to actually come up with something useful rather than theory. Plotting the S&P across various currencies confirms the bull market, as…