Distributions

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5 Tax-Smart Ways to Withdraw Cash From Your C Corporation

Quick Take: Owner-employees can take money from a closely held C corporation while minimizing tax exposure by utilizing alternative withdrawal methods. Dividends result in double taxation, as they are taxable to shareholders and non-deductible for the company. Potential  alternatives include repaying bona fide shareholder loans, taking reasonable compensation, leasing assets, reimbursing qualified business expenses, and redeeming stock.

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RMD Deadline and Penalties

If you’re subject to required minimum distributions (RMDs), you must take your 2024 RMD by December 31 to avoid penalties.

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