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2 follow up questionsI assume an S-corporation that is pretty old and has always been an S-Corp will pay the franchise tax? They have been paying for quite some...
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Previously filed as a single member LLC (Sch. C). For 2021 we had elected to file as S-Corp. Have tried to research and I know LLC's are exempt but cannot find ...
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After discussing with the client, the original intangible was created when they purchased the business and they are still paying this through an installment sal...
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Thank you for the response. If there was say $800k worth of intangibles on the books and $600k of accumulated amortization - that would create $200k basis but t...
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I had a client sell their business through an asset sale. For practical purposes and with the exception of some real property remaining in the S-Corp - everythi...
