Want to create an interactive transcript for this episode?
Podcast: Cherry Bekaert: Government Contractors Guidance
Episode: Year-End Tax Planning for Government Contractors
Description: Many of our government contracting clients are taxed as a pass-thru entity, generally an LLC that's taxed as a partnership or an S corporation. It is important to plan at both the entity level and the individual level since in the case of pass-thrus, the income is passed down to the individual owners through a Form K-1 regardless of distributions received during the year.Year-end tax planning should be done to reduce the taxable income that passes down through K1s to the individual return. In the case of a C Corporation, year-end tax planning is helpful...