Craig W. Smalley, MST, EA, is the Founder and CEO of CWSEAPA, PLLC. He has been admitted to practice before the Internal Revenue Service as an Enrolled Agent and has a Master’s Certificate in Taxation from UCLA. In practice since 1994, Craig is well-versed in U.S Tax Law and U.S. Tax Court cases, and specializes in individual, partnership, and corporate taxation for high-net-worth clients; entity structuring and restructuring; and representation before the IRS regarding negotiations, audits and appeals. Craig is currently a columnist for CPA Practice Advisor and AccountingWEB and has had 12 books published. His articles have been featured in publications including the Wall Street Journal, The New York Times, and Christian Science Monitor, and he has been interviewed and appeared as a featured guest on numerous radio shows and podcasts. Craig can be reached at craig@craigwsmalleyea.com.
May 22, 2017
For an LLC that’s electing to pay tax as an S-Corporation or C-Corporation, it is perfectly fine to treat the members of the LLC as employees. Where it goes awry is when LLC members of partnerships or disregarded entities are treated as employees, and...
May 16, 2017
Generally, my advice was to form an LLC and then have it taxed as an S-Corporation. But there are many things to examine here. Let’s say that someone is working full time and this is their side business. Wouldn’t it just make sense to form an LLC and ...
May 15, 2017
A simple and basic estate planning tool is a revocable living trust (RLT). Revocable means it can be changed; living, because you are alive; and trust which is a legal document. The point of a RLT is to protect your assets from probate, the long and ...
