If you’re like many business owners operating as a one-shareholder S corporation, chances are you’ve done so to take advantage of Social Security and Medicare tax savings. But there’s another benefit that often flies under the radar—one that can offer serious liability protection without adding tax headaches: the S Corp subsidiary, also known as a...Continue reading
Paying yourself from your business depends heavily on your entity structure and understanding the tax implications of your choice. This post gives you a few key points to remember, but call us as Ken-Mar Tax for more in-depth tax advice. A common question among business owners is how to pay themselves from their businesses properly....Continue reading
What is the best structure for my business? Use this chart to help determine how best to structure your business. Are you a business owner or entrepreneur trying to decide which entity structure is the best fit for your needs? Navigating the complex landscape of business entities can be challenging, so we provide this Business...Continue reading
The Corporate Transparency Act (CTA) became effective on January 1, 2024. The law was written to create a government database containing the identities and contact information of small business owners - specifically defined small corporate and LLC “beneficial owners.” The beneficial owners are the actual people who own the entity or exercise substantial control over it....Continue reading