The CPA Journal

Questions About the Classification of Joint Ventures for Accounting Purposes

IN BRIEF FASB's recent guidance on accounting joint ventures, ASU 2023-5, is intended to resolve diversity in practice and ...
Smart Business Magazine

Your company’s business classification is worth another look

It can be the case that companies are operating under an inferior business classification — an issue that’s more common than many would think. “They might have chosen a classification as a startup ...
Houston Chronicle

The IRS Forms Required for an LLC Without Employees or Earnings

A limited liability company (LLC) is a legal business structure, but the IRS does not recognize an LLC as a classification for tax purposes. The IRS considers LLCs a disregarded entity for tax ...
Houston Chronicle

Can an LLC Choose to Be Taxed Differently Every Year?

For federal income tax purposes an LLC, or limited liability company, is considered a disregarded entity. In effect, the LLC does not exist under the Internal Revenue Code. Despite this fact, a ...