NOTE: This is for informational purposes only. Tax situations vary. If you need further assistance contact your tax professional or give us a call. We have written several articles on the benefits of an S-corp. Perhaps the most appealing is that an S-corp could potentially save its shareholders thousands of dollars in taxes ever year. An S-corp is not a legal entity. You cannot go to your local town clerk or Secretary of State and set up your...

Corporation Advantages and Disadvantages You might want to start a business and are wondering what are the advantages and disadvantages of a corporation. It’s very important to consider if a corporation is the right business structure for you. Questions like what is a corporation, why form a corporation, and do I need a corporation all come to mind and you might just be lost. As a national accounting firm, we’ve helped...

How to Pay Yourself from an S-Corp Having a business allows you to provide a product or service on your terms with unlimited income potential. The benefits don’t stop there.  A business owner has the ability to take advantage of many tax deductions that are simply not available to regular employees. An employee works and receives a paycheck from his or her employer.  The employer deducts, among other things, Social Security and...