How To Run Payroll For An S-Corporation In 2022
Failure to file the requisite forms and pay your payroll taxes significantly increases your exposure to an audit by the IRS and your state’s unemployment division which could result in back taxes, penalties, and interest. This is why year-end planning around your compensation is critical.
Optimize Your S-corp Payroll, Save Big on Taxes
One of the most important elements of tax planning for S-corporation owners is to consider the amount of W-2 salary paid to the owner of the business.