By paying your kids from your business with the right process, you might be able to save around $2,000 in taxes per child.
Category: Compensation
The 5-Step Guide To Hiring Remote Employees in 2022
In the age of remote work and a massive labor shortage, organizations all around the globe are hiring remote workers to fill the gaps within their companies. Read this guide to learn about the basic requirements to be compliant when onboarding and offboarding remote employees.
How To Pay Yourself: S-Corp Salary Or Distributions?
One very confusing concept for new business owners is determining how to pay yourself from your business. This article covers the ideal breakdown between S-corp salary or distributions for business owners.
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.