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How to Pay Yourself as an S Corp

S Corporations are unique in that they offer both the limited liability benefits of a corporation and the pass-through taxation of a partnership. In an S Corp, paying yourself generally…
November 29, 2023

Reasonable Compensation Horror Story: A Realtor Haunted By Missing Reasonable Compensation Calculations and Payroll Non-Compliance

As many of us in the tax and accounting profession know, there’s rarely much good that can come out of the IRS flagging a business owner’s personal tax return for…
Court Cases & True Stories October 31, 2023

Rising and Falling Revenue: The Keys to Reasonable Compensation Calculations for Real Estate Agents

You may think it’s a challenge to calculate reasonable compensation for real estate agents due to fluctuations in the economy.

Best Practices October 23, 2023

Reasonable Compensation for Gig Workers

These clients are aggressive in expanding their businesses, and developing multiple streams of revenue, as such, they need to be sure to not only pay appropriate income taxes, but also to pay adequate payroll taxes, too.

Best Practices October 23, 2023

5 Major Money Leaks: How to Plug the Profit Drain and Maximize the Revenue Potential at Your Firm

Do you feel overworked and underpaid, and no matter how many hours you work, you still can’t get ahead? Do you struggle to make and keep boundaries with clients, or…
Best Practices October 20, 2023

Reasonable Compensation for Social Media Personalities

These clients are aggressive in expanding their businesses, and developing multiple streams of revenue, as such, they need to be sure to not only pay appropriate income taxes, but also to pay adequate payroll taxes, too.

Best Practices October 19, 2023

What is an S Corp and is it Right for My Business?

Whether you're forming a new company or contemplating changing your business structure, the decision between opting for an S Corporation or an LLC for tax purposes is a crucial one.…
Entity Planning October 18, 2023

What S Corp Owners Should Know About the Reasonable Compensation Requirement

For an S Corporation, staying viable means continually evaluating the reasonable compensation requirement. Taking distributions from your company without paying reasonable compensation to all eligible shareholders can land you in…
Tax Compliance October 18, 2023

A Guide to S Corporations 401(k)s

One of the things S Corporation owners should think about is setting up a  401(k) plan. These tax-advantaged accounts can be an important and effective tool to set aside the…
Tax Compliance October 17, 2023

The Auditors Are Coming: Updates from the IRS on Enforcement Efforts

With the passing of the IRA22 last year and the ongoing battle over the funds allotted to the IRS in that legislation, there have been numerous updates about how the…
IRS News, Updates & Guidance October 12, 2023

5 Proactive Tax Strategies to Maximize Client Value and Revenue in the Face of IRS Audits

With the September and October tax deadlines behind us it’s time to think ahead to the next tax filing season which is really only a few weeks away! As we…
IRS News, Updates & Guidance October 6, 2023

5 Simple Wins to Grow Your Bookkeeping Business

Download our Simple Wins Guide today and learn how a reasonable compensation analysis can add value to your clients, discover how reasonable compensation affects everything from payroll taxes, tax planning strategies and so much more!

Best Practices August 22, 2023

Between a Rock and a Hard Place: What To Do When the Client Won’t Get a Reasonable Comp Report

You are probably aware that taxpayers who own a C Corporation and Subchapter S Corporation who provide services in that corporation are required to take a “reasonable salary.”  But what…
Client Advisory Services June 27, 2023

6 Tax Tips for Small Businesses

Now that tax season is officially over (any extensions you have to file aside), now is the perfect time to shift into tax planning mode for your SMB (small-to-medium business)…
Tax Planning May 25, 2023

Maximizing Tax Savings for Digital Content Creators: Understanding Reasonable Salary for LLCs and S Corps

If you’re a digital content creator, chances are you’ve seen something online about the potential tax savings of switching from an LLC to an S Corporation. However, most of these…
Best Practices May 3, 2023

What is Reasonable Compensation? A Primer for S-Corp Owners

Reasonable Compensation in a Nutshell   All S-Corp shareholder-employees must pay themselves a reasonable salary (i.e. Reasonable Compensation) via W-2 BEFORE any distributions are taken. It’s the law. You should…
Best Practices May 3, 2023

Learn why RCReports is the #1 reasonable compensation tool for accountants.

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