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Is Your Compensation Reasonable?

By taxingtimes on Jan 12, 2015 in Business Owners, IRS, S Corporation, Tax

By Amanda Wilson If you are an employee of a company for which you are also an owner, you should consider reviewing your current compensation for its reasonableness. It is very common for small businesses to be formed as Subchapter S corporations....

Can or Should an LLC be a Shareholder of an S Corporation?

By taxingtimes on Dec 11, 2014 in LLC, S Corporation, Tax

By: Amanda Wilson Many private companies utilize S corporations in their ownership structure, as they provide beneficial tax treatment. In order to qualify as an S corporation, the corporation can have only certain types of shareholders....

IRS May Issue Guidance on Parnter/Employee Issue

By taxingtimes on Apr 27, 2014 in IRS, S Corporation, Tax

By: Amanda Wilson When deciding how to form their new business, small business owners are often encouraged to organize as an S corporation because of self-employment tax savings. This recommendation is because the IRS does not recognize that a...