Video

  • 12 minutes

Business Tax Issues

 

Business tax issues occur in different business structures and the types of returns needed.

The C Corp is a separate legal entity which has a double taxation. C Corps pays tax on its profitability and distributes the net profit after tax to the shareholders and they in turn have to pay tax on those dividends as well. S Corps have certain limitations including the number of shareholders, and has a major exception in which the tax form shows no place for capital contributed to be listed so you don’t know how much the owner contributed to the S Corp and needs to be verified with the controller. LLCs can be taxed as a sole proprietorship or single member LLC, a partnership, a C Corp, or an S Corp. They each come with their own set of business tax issues. 

Runtime: 11 minutes

Agenda

Faculty

David L. Osburn, M.B.A., CCRA

David L. Osburn, M.B.A., CCRA

Osburn & Associates, LLC

  • Founder of Osburn & Associates, LLC
  • Contract CFO clients include medical practitioners, financial institutions, law firms, CPA firms, architects, real estate developers, and contractors
  • Extensive professional background of over 30 years encompasses 21 years as a business trainer/contract CFO and 16 years as a bank commercial lender including the position of vice president/senior banking officer
  • Banking credentials include loan underwriting, loan work-out, management, and business development
  • Has been an adjunct college professor for over 30 years including the College of Southern Nevada
  • Holds the professional designation of Certified Credit & Risk Analyst (CCRA) as granted by the National Association of Credit Management (NACM)
  • M.B.A. degree, Utah State University; B.S. degree in finance, Brigham Young University; graduate of the ABA National Commercial Lending School, University of Oklahoma

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