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Are Year-End Compensation Accruals Tax Deductible?

    https://www.rklcpa.com/are-your-companys-year-end-compensation-accruals-tax-deductible/
    Dec 13, 2016 · These payments are deductible. C corporation owners (more than 50%): No accruals are deductible, including holiday and vacation pay. Certain related parties: No accruals are deductible…Estimated Reading Time: 3 mins

Deducting deferred bonuses - The Tax Adviser

    https://www.thetaxadviser.com/issues/2018/may/deducting-deferred-bonuses.html
    May 01, 2018 · An accrual - basis C corporation is allowed a deduction for accrued bonuses payable to a cash - basis controlling shareholder as of the day the compensation is received (actually or constructively) by the shareholder (Sec. 267 (a) (2)).Estimated Reading Time: 13 mins

Part I Section 461.–General Rule for Taxable Year of Deduction

    https://www.irs.gov/pub/irs-drop/rr-07-12.pdf
    compensation, and is otherwise deductible under Chapter 1, the compensation is deductible pursuant to the rules, and subject to the limitations, of § 404. Section 404(a)(5) provides, in part, that if the plan of compensation is not described in § 404(a)(1), (2), or (3), the compensation deductible under § 404 is

Solved: Does a officer of a C Corporation have to report ...

    https://ttlc.intuit.com/community/business-taxes/discussion/does-a-officer-of-a-c-corporation-have-to-report-all-compensation-for-payroll-tax-purposes-or-can-a/00/672234
    Jun 06, 2019 · If you are a C corporation, monies you withdraw from income that you do not report as compensation, either on a W-2 form or 1099-MISC, would be considered dividends and would taxable to you as such, but not deductible by the corporation. So, you would be doubled taxed on your distributions. **Say "Thanks" by clicking the thumb icon in a postEstimated Reading Time: 10 mins

Deduction limitations of Sec. 162(m) to compensation paid ...

    https://www.thetaxadviser.com/issues/2020/jun/deduction-limitations-sec-162m-compensation-up-c-upreit.html
    Jun 01, 2020 · Sec. 162 (m) limits the compensation deduction a public corporation may take to $1 million per tax year for compensation paid to each of certain executive officers. The law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115 - 97, significantly expanded …Estimated Reading Time: 13 mins

An accrual basis C-corp records accrued salaries paid to ...

    https://www.justanswer.com/tax/3qwmz-accrual-basis-c-corp-records-accrued-salaries-paid-shareholders.html
    For an accrual basis C corporation, only actual compensation paid within the calendar year for the majority shareholder may be deducted on the return. Any accrued compensation is not deductible. Compensation for the other shareholders and employees may be accrued and deducted if paid within the first 2 1/2 months of the following year.

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