Baltimore CPA - 410-466-3779
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Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
Facts and Figures

*Loans to Corporations--Generally, you can increase your "basis" by lending money to your S corporation, but not always. New case: An S corporation owner borrowed money from a partnership he controlled and loaned it to his S corporation. Then the corporation paid the partnership an equivalent amount in rent. Because this was merely a circular flow of cash, the owner could not increase his basis in the S corporation stock.

*Play Ball!--Does your company have a softball team or sanction other organized athletic activities? Encouraging these types of pursuits is a good way to improve workplace morale. They can influence cooperation and create more enthusiasm about coming to work each day. On the other hand, if you do not proactively promote social interaction, you may notice a lack of motivation among employees.

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TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.

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