An S corporation—or S corp for short—is a special federal tax designation that helps you avoid corporate taxes. Instead of your business paying tax directly, all profits and losses pass through to your personal tax return. This means you won’t face double taxation like you would with a ...
A traditional LLC already has pass-through taxation, so the benefits of S-corp election for an LLC have to do with self-employment tax. This requires some explaining, but for certain LLCs, it could save a lot in taxes. The members of a standard LLC are considered self-employed. They’...
If you're an S Corp owner, you have to run S Corp payroll. Learn more about how to run payroll as an S Corp owner here.
While not required, an attorney can ensure legal accuracy and compliance. Attorneys help with complex structuring, tax implications, and protecting against potential issues. Are you ready to start a new business? We can help you get started for just$109+ state fees ...
Most states require that you file an annual report to keep company information current with the Secretary of State. Each state has different rules and regulations regarding the frequency and annual report filing location for your annual reports. That's why we compiled a chart containing the annual...
EPA for a NOx budget unit under section 10 of this rule, in which the NOx allowance allocations for the unit are initially recorded and in which are held NOx allowances available for use by the unit for an ozone control period for the purpose of meeting the unit’s NOx budget emissions ...
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Incorporating as an S corp is complicated. Follow these S corp requirements to stay on the IRS’s good side and keep more of your income.
How many employees does an S corp need? There’s no required number of employees to maintain S corp status. You can hire as many or as few employees as your business needs. Should I pay myself a salary from my S corp? Yes. As an owner or shareholder-employee, you must pay yourself...