Category: LLCs

Converting an LLC to an S Corp

Many small business owners form limited liability companies (LLCs) rather than corporations because an LLC is flexible and has minimal state reporting requirements.  Many US

GILTI Rules Particularly Onerous for Non-C Corporation CFC Shareholders

Background –  https://www.mooresrowland.tax/2018/02/us-exposed-owner-of-international.html https://www.mooresrowland.tax/2019/01/gilti-regime-guidance-answers-many.html     Summary The recently enacted tax reform legislation significantly expanded the application of Subpart F, including by adding a new

The pros and cons of LLCs

The use of the limited liability company (LLC) has mushroomed in popularity over the past two decades. IRS statistics show a 66% increase in domestic