4 BIGGEST S CORP Mistakes That Results to DOUBLE TAXATION

S Corp double taxation also called exceeding tax basis, is one of the most important items to monitor as an S Corp business owner. It's so rarely explained and talked about because it's a technical tax concept that's hard to explain.
This is a video just covering the basics; there's a lot more detail that could apply, but this video will give you a good idea of the items to look out for when running an S-Corp so you don't create an extra layer of tax.
00:00 Intro
01:59 What is S Corp Double Taxation
02:56 Exceeding Tax Basis
03:26 Here are why S Corps are being double taxed
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ABOUT JASMINE DILUCCI, JD, CPA, EA
Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS.
Now as a tax attorney and CPA, she works with individuals and business owners across the nation to resolve IRS tax issues, streamline accounting, and minimize tax for business owners.
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RESOURCES
IRS Notice: www.irs.gov/pub/irs-drop/n-22...
Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice.
#exceedingtaxbasis #doubletaxation #jasminedilucci