CPAs can help their clients determine what is a reasonable salary to pay shareholder employees (SEs) of S corporations, thus satisfying an IRS priority to collect proper amounts of employment taxes.

Ultimately, the right entity choice depends on the business’s goals, profit model, ownership structure, and tolerance for ...

Another distinction lies in flexibility. LLCs allow owners to reinvest profits or distribute income in a variety of ways, while S-Corps must distribute earnings based strictly on ownership percentage.

With only a couple of months left in 2024, many business owners are preparing their year-end taxes. For some, this may include refining their financial structures, specifically working to minimize tax ...