C Corp ,S Corp, LLC, Partnership별 차이 정리 AICPA

 

Sole proprietorship
	Schedule C -> Form 1040
	Gross Business income <Business Expenses>
Income	Cash Property(FMV) Cancellation of debt
Expenses	State and local business taxes paid * State Income or Sales Tax는 Itemized deduction Business meal(50%) Depreciation of business assets Bad debt actually written off for an accrual basis taxpayer only Interest expenses on Business Loans
Nondeductible Expenses	Salary to owner Federal income tax Bad debt expenses of a cash basis taxpayer Charitable contributions (Itemized deduction on Schedule A) Entertainment
Tax	Income Tax Self-employment (SE) Tax (Social Security + Medicare)  50% Adjustment Income * 92.35% * 15.3%
Rental Income (Schedule E) Passive activity 15 days more	Gross rental income Prepaid rental income Rent cancellation payment Improvement-in-lieu of rent <Rental expenses> —---------------------------------- Net rental income Or Net rental loss ** Rental expense 에서 Mortgage interest & property tax는 1년 기준 렌탈 준 기간만큼 으로 계산 (2개월/12개월) 반면에, Utility, Depreciation, Insurance 같은 비용은 Property 사용한 기간 중 렌탈 준 기간만큼 으로 계산 (2개월/3개월) ** Rental Losses are considered passive and will be deductible only to the extent of passive income. (예외: Mom & Pop - $25,000)

 

Partnerships, S Corporations, LLCs that are taxes as partnerships or S Corporations
	2명 이상이면, the default entity type 은 partnership The Partnership can elect to be taxes as a C corp (자격이 된다면 S Corp) Single-member LLC = Disregarded entity (Report on Schedule C)
	K-1 -> Form 1040 Schedule E  IRS에 Entity’s ordinary business income & loss 그리고 Separately stated items을 보고해야 함
Separately stated items (=Ordinary income과 Business Expense가 아닌것)	Rental real estate income(loss) Interest income Dividend income Royalties Net short-term capital gain (loss) Net long-term capital gain (loss) Net Section 1231 gain (loss) Charitable contributions Section 179 expense deduction Guaranteed payments to partners (partnership only) (이자, 로열티, Capital gain, Section 1231 gain 같은 불로소득, 기부금 및 통으로 경비처리가능한 Section179 같은 것들)
Ordinary Business Income.Loss	Business Income <Business Expenses> <Guaranteed Payments> —----------------------------------- Ordinary Business Income/Loss
Distribution	Not taxable income Partnership 또는 S corporation의 Income은 Taxed to the owners when it is earned, regardless of whether or when it distributed to the owners. Basis만 낮춤
Guaranteed Payment to Partners	Guaranteed payments to the partnership은 받는 Partner에게 Self-employment income이 된다.  ** S Corp의 주주가 회사로 부터 돈을 받으면 그것은 Salary이지, Guaranteed payment가 아니다.
Owner’s Share of Ordinary Business Income (Partnership)	본인이 회사 운영에 actively하게 개입되어 있다면 Self-employment income 본인이 회사 운영에 개입하지 않는 (예를들어, Limited partner) 경우, Self-employment income 이 아니다.
Owner’s Share of Ordinary Business Income (S-Corp)	본인이 회사 운영에 개입했건 안했건 S-corp은 Self-employment income으로 안들어간다. 따라서 Self-employment tax를 안낸다. 이것이 S-corp을 선택하는 가장 큰 이유.