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pay yourself as an s-corporation
Understand the right amount to pay yourself as an S Corporation and avoid unnecessary hassle of payroll taxes.
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2 Valuable Year-End Tax-Saving Tools for Your Business

This is the time of year when many business owners are asking if there’s anything they can do to save tax for the year. Under current tax law,

taxpayer-filing-status

What is Your Taxpayer Filing Status?

For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the

environmental-cleanup

The Tax Implications if Your Business Engages in Environmental Cleanup

If your company faces the need to clean up or “remediate” environmental contamination, the money you spend can be deductible on your tax return as an ordinary and

Using-your-401k-plan-to-save

Using Your 401(k) Plan to Save This Year and Next

By contributing to a tax-advantaged retirement plan you can reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it

1099-MISC-reporting-requirements

Small Businesses: Get Ready for Your 1099-MISC Reporting Requirements

Your business may be required to comply with rules to report amounts paid to independent contractors, vendors, and others a month after the New Year begins. This may

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You May be ABLE to Save for a Disabled Family Member with a Tax-Advantaged Account

There’s a tax-advantaged way for people to save for the needs of family members with disabilities and it won’t affect their eligibility for government benefits to which they’re

100% Payroll tax penalty

Small Businesses: Stay Clear of a Severe Payroll Tax Penalty

One of the most labor-intensive tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from your employees’

IRA-charitable-donations

IRA Charitable Donations Are an Alternative to Taxable Required Distributions

Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older (and don’t need the money from required minimum

converting-from-a-C-corporation-to-an-S-corporation

Thinking About Converting From a C Corporation to an S Corporation?

Choosing the right entity can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations

Selling-securities-by-year-end

Selling Securities by Year End? Avoid the Wash Sale Rule

If you’re planning to sell assets at a loss to offset gains realized during the year, it’s important to be aware of the “wash sale” rule. How the

Accelerate-depreciation

Accelerate Depreciation Deductions with a Cost Segregation Study

Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation study.

Coverdell-ESA

Use a Coverdell ESA to Help Pay College, Elementary, and Secondary School Costs

One way to save for your child’s or grandchild’s education is with a Coverdell Education Savings Account (ESA). Although for federal tax purposes there’s no upfront deduction for

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