Sub Chapter S Corporation Tax Tips

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Part of the video series: Tax Deduction Tips for Businesses

Summary: Online tax help for businesses. Learn about Sub Chapter S corporation taxes in this free video clip about small business tax tips.

Views: 593 | Tags: online, service, small, business, help, forms, laws, tax, accountant, deductions, deductibles


About the Expert

Tom Choisnet Tom Choisnet was born, raised, and educated in San
Bernardino, California where he has his practice today. He has been in self-employed tax practice fo... read more

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Video Transcript

Sub Chapter S Corporation Tax Tips

Hi, I'm Tom Choisnet, enrolled agent. I'm continuing now about real property taxes. I separated this out because I wanted to bring focus to taxes on property that you may overlook. One thing comes to mind, the Time Share that many of us have. Parts of those annual fees that you pay do go to property taxes and they are deductible. Also, if you happen to have taxes paid on real property out of state, those are deductible. As well of course if your personal residence. The taxes on your rentals are going to be over onto schedule E, so they are separate. A little tip about real property taxes, if you can't deduct the real property taxes because you are not an itemized deduction person, can be capitalized when the properties sold. So remember that and keep track of all the property taxes that you pay. Hope I've helped you a little bit; this is Tom Choisnet, thank you.

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