CPAs can help their clients determine what is a reasonable salary to pay shareholder employees (SEs) of S corporations, thus satisfying an IRS priority to collect proper amounts of employment taxes.

One of the benefits of being an S Corporation owner is having the ability to significantly reduce your payroll taxes. Yes, that’s right. By meticulously examining your own salary and profit ...

To avoid federal employment taxes, S corporations may be tempted to understate the wages and salaries of employee/shareholders. The IRS however, may recharacterize what S corporations classify as ...

If you’re self-employed, you’ll usually have to pay higher Social Security and Medicare taxes, collectively known as self-employment taxes, than if you were an employee of a company. One way to help ...

Business entity type and tax structure impact your organization’s finance and compliance requirements. Two popular choices are limited liability companies (LLCs) and S-corps. Although the arrangements ...

In the last four years, content creation has undergone significant changes, with platforms such as Twitch, OnlyFans, Youtube, Instagram, and TikTok now serving as viable sources of income. Despite ...