A guide to Form 5472 penalty structure, how penalties accumulate, and available relief options for foreign-owned U.S. businesses Quick Facts: $25,000 Initial penalty per form No maximum Penalties can accumulate
Form 5472 Reportable Transactions: What Must Be Reported
A comprehensive guide to identifying, categorizing, and reporting related party transactions on Form 5472 Quick Facts: All transactions with related parties must be reported Separate forms required for each related
Form 5472 for Foreign-Owned LLCs: Complete Filing Guide
Understanding the Form 5472 requirements that apply to foreign-owned single-member LLCs and disregarded entities since the 2017 expansion Quick Facts: 2017 Year disregarded entities became subject to Form 5472
How Partnership Distributions Actually Work (With Examples)
Last year, a real estate partnership we advised made what seemed like a routine $147,000 cash distribution to a retiring partner. Three months later, that partner received an
Multi-State Partnership Filing: Your Complete State-by-State Guide
Introduction Last year, a tech partnership operating in California, New York, and Illinois discovered they owed $847,000 in penalties and interest for missed state filings. Their mistake? Assuming
The Complete Short-Term Rental Tax Strategy Guide: Understanding W-2 Income Offset Opportunities for High-Income Professionals
Executive Summary: What You’ll Learn This comprehensive guide explores the tax planning opportunities that may be available through short-term rental (STR) properties when properly structured and operated. We’ll cover: The
The $60,000 Question: Determining Your S-Corp Reasonable Salary in 2025
TL;DR Summary S-Corp reasonable salary is the market-rate compensation you must pay yourself before taking distributions, typically ranging from $40,000-$150,000+, depending on your role, industry, and location. The
The Ultimate Guide to Federal Income Tax Deadlines
Stay ahead of the 2025 tax season with this comprehensive guide detailing all the important federal income tax deadlines for individuals, businesses, estates, trusts, and gift tax returns
RSU Tax Calculator for California Tech Professionals: Save Tens of Thousands on Your Equity Compensation Taxes
Calculate Your Exact RSU Tax Liability and Discover Hidden Savings Opportunities with Our California-Specific Calculator Quick Answer for Tech Employees RSUs are taxed as ordinary income when they
529 Plan Tax Benefits: Complete CPA Guide for Texas Families and Business Owners
TL;DR 529 plans offer significant federal tax benefits including tax-deferred growth and tax-free qualified withdrawals, but state tax benefits vary dramatically. Texas has no state income tax, so