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.
2022 Tax Break for Small Business Owners: The Qualified Business Income Deduction
Did you know that 2018 was the HUGE tax savings year for business owners when the President signed into law a shiny new deduction – the Qualified Business Income Deduction under Section 199A? The Tax Cuts and Jobs Act was a huge boon for agencies, coaches, and creators in the US, especially when the Qualified […]