(208) 415-1850 contact@cdaaccounting.com

Does a Coeur d’Alene S Corporation Have Flexible Tax Reporting?

No. If your business is formed as a Coeur d’Alene S-Corporation, then there is no other taxation option available.

However, the IRS does not have a separate taxation category for Idaho LLCs. This allows the LLC members to elect at their own discretion a form of taxation that makes the most sense for their business. An Idaho LLC can elect to be taxed as an Idaho S-Corporation, but not the other way around.

Our 8 Point Plan to Resolving Your IRS Tax Problem

Our 8 Point Plan to Resolving Your IRS Tax Problem

1. We will meet or speak with you and thoroughly discuss your tax situation.

It is important that we obtain a thorough understanding of your unique situation.  This personal interview will provide us with the background needed to develop the appropriate strategy for solving your IRS problem.

 

2. We will prepare a Power of Attorney for you to sign.

With the Power of Attorney, we put the IRS on notice that we are representing you. All future telephone calls from the IRS should come to us and not to you.

 

3. We will obtain transcripts of your accounts from the IRS.

By reviewing your IRS transcripts, we will be able to accurately determine what the IRS thinks it knows about your tax situation.

 

4. We will develop the appropriate strategy for solving your IRS problem.

Every taxpayer’s situation is unique. With the information you have provided, we will develop a strategy to get you the lowest possible settlement allowed by law.

 

5. We will send you an easy-to-follow checklist of additional information you need to provide.

Preparing complicated IRS forms is our business. You, however, will have to provide us the information needed to complete these IRS forms.  We will make this process as easy as possible by sending you our easy-to-follow checklist.

6. We will prepare all forms required by the IRS to resolve your IRS problem.

We will prepare all forms required by the IRS. All you have to do is review these forms and sign them.  We take care of the rest.

 

7. We will negotiate with the IRS to obtain the lowest possible settlement allowed by law.

We will handle all negotiations with the IRS in order to get you the best deal possible.

 

8. We will thoroughly discuss all aspects of your settlement with you.

We will explain all aspects of your settlement with you and will answer any and all questions you may have. We want to make sure you are completely satisfied.

 

Coeur d’Alene Business Consignment Rules

Consigned inventory is merchandising a Coeur d’Alene business or an individual places with another business for the other business to try to sell. A dressmaker may consign inventory to a dress shop. The person consigning the goods (the dressmaker) has not made a sale and does not get paid until the business that has taken the goods in on consignment (the dress shop) sells the goods.

Tax Implications

For tax and inventory purposes, the consignor (in this example, the dressmaker) has not sold the dress. There is no income to report. The dress inventories. The consignee (the dress shop) has not purchased the dress from the dressmaker until it sells the dress to its customer. The dress shop does not include the dress in its yearend inventory.