Beware of Hidden Built-In Gain (BIG) Taxes When Transitioning to S Corporation
Small Business Tax Savings Podcast - A podcast by Mike Jesowshek, CPA - Wednesdays
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Send us a text Thinking about converting your C Corporation to an S Corporation? Before making the switch, do you know about the Built-In Gains (BIG) Tax—and how it could cost you thousands if you don’t plan ahead? In this episode, Mike Jesowshek breaks down the Built-In Gains (BIG) Tax, a critical consideration for business owners converting from a C Corporation to an S Corporation. He explains why this tax exists, how it prevents businesses from avoiding double taxation, and the condition...
