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The Benefits of Owning an S-Corp: W2 Wages

s-corp benefit: w2 wage

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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When do you need a CPA?

When do you need a CPA

The answer is very simple, you need a CPA whenever you need to convince someone else; like a banker, investor group, or the government that your accounting system produces accurate, reliable information in the opinion of an independent expert who is not your regular accountant or accounting department. Did you […]

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What is a 1099, and When do I Need One?

what is a 1099

1099 Your Subcontractors When hiring a subcontractor to do a job for you, you will need to issue them a 1099 for all services over $600. Some people hire a construction contractor, plumber, landscaper, and electricians. All of these professionals should be issued a 1099-Misc for services completed and paid. Each […]

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Deduct Medical Expenses in Your S-Corp

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?

S-Corp Owner - 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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Make Money Is Not A Mission Statement

make money is not a mission statement

You’ve been in business several years now and you’re somewhat successful. Sales keep rising, profits keep rising, and you are thinking about adding on additional services. Why? Too make more money! Is that really the way to go? What is your mission, what is your focus? Too make money? What […]

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Do I Need A W-4 or W-9?

Business Wisdom Do I need a W-4 or W-9

Sometimes it can be difficult to know what forms are needed when hiring a new person for your business. You must use either one of two forms, a W-4 or a W-9, depending on whether you are hiring a new employee or an independent contractor. If you are hiring a […]

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