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Can a Single Member LLC be Taxed as an S Corp?

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Can a single member LLC be taxed as an S corp? As a single member LLC, you can elect to be taxed as an S-Corp as long as the election is made no more than two months and 15 days after the beginning of the tax year you want the election to go into effect. … Read more

Can an LLC have a DBA in Ohio?

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Can a DBA become an LLC? No. An LLC is a business entity, while a DBA is just a name for a business. Sole proprietorships are often confused with DBAs, but they are not the same: a sole proprietorship is a business entity, therefore it can choose to become an LLC. Read more on howtostartanllc.com … Read more

Understanding the Kansas Expensing Deduction

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What is the Kansas expensing deduction? The expensing deduction for this item is $1,160 to use as a subtraction from Kansas income. For corporate purposes this is subtracted from income after apportionment on line 18 of Form K-120 or K-121. Read more on ksrevenue.org The Kansas expensing deduction is a tax break for businesses that … Read more