Business entity type and tax structure impact your organization’s finance and compliance requirements. Two popular choices are limited liability companies (LLCs) and S-corps. Although the arrangements ...

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.

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.

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. One of the benefits of being an S Corporation owner is having the ability to significantly ...

If you’re self-employed, you’ll usually have to pay higher Social Security and Medicare taxes, collectively known as self-employment taxes, than if you were an employee of a company. One way to help ...

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To avoid federal employment taxes, S corporations may be tempted to understate the wages and salaries of employee/shareholders. The IRS however, may recharacterize what S corporations classify as ...