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7 Things You Need to Know About State Income Taxes for Your Business

Does your business have customers in more than one state? If so, welcome to the wild world of state income taxes! Forty-five of the fifty states plus Washington, D.C. impose some type of income tax, and no two states have exactly the same tax…

4 Things to Know about IRS Notices

Getting a letter from the IRS is scary. But if you do the right things, the worst consequences can be avoided. Here are four things to keep in mind about letters from the IRS. Don’t panic! This letter may not be a request for more money,…

Is Your S-Corporation Compensation Reasonable? Here’s How to Avoid an IRS Audit

A great tax-saving feature of S-corporations is that the net earnings are exempt from self-employment tax. But the tradeoff is that S-corp shareholders are expected to take a salary that qualifies as “reasonable compensation.” Since wages…