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Corporations

The Benefits of Owning an S-Corp: W2 Wages

Income and Expense through W2 wage When you are an active shareholder with a W2 wage through your S-Corp it becomes personal income and a business expense. Your salary must be reasonable compensation, you can utilize then benefit of being an employee through your corporation or LLC. “How does this work” […]

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Deduct Medical Expenses in Your S-Corp

You can get reimbursed for Medical Expenses! This is an expense to the business which brings down the taxable income for the company. The payroll that is issued is not subject to Social Security and Medicare tax so the company saves on payroll taxes each year. In turn, you get reimbursed for […]

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I own an S-Corp, how do I get paid?

Owning an S-Corp can seem confusing as to how you get paid. Properly utilizing the benefits of your corporation could potentially save you thousands of dollars in taxes. There are steps to take in order to be properly compliant with the IRS. These steps are: Become a W2 employee with […]

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Annual Meeting Minutes for Corporations

As a shareholder in a corporation you have duties to complete on an annual basis. One item the IRS requires is that you hold a corporate meeting of the shareholders. This can frighten businesses who have never done one or can make you feel overwhelmed with the addition of day to […]

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