Officer Compensation for S-Corps: What the IRS Expects in 2026
The S corp structure saves business owners money on self-employment taxes. That savings comes from splitting income between a W-2 salary and distributions, paying payroll taxes only on the salary portion. The IRS has always understood this dynamic, and in 2026, it is...- All
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Tax Updates You Need To Know [2025]
With the New Year behind us, businesses are beginning to plan for the 2025 tax season. This year, we will see fewer major changes than in previous years, but there are still a few noteworthy items to consider. Here’s what you need to know. Increase In The...How Far Back Can the IRS Audit?
A notice from the IRS that an audit is coming is the last thing anyone wants to see. Contrary to popular belief, those with incomes under $25,000 are five times more likely to be audited than those in the higher income bracket, according to a study by Syracuse...Tax ID vs EIN: Which One Should You Use for Your Business?
Figuring out the differences between a tax ID and an employer identification number (EIN) are key when it comes to filing taxes. We often hear people referring to them interchangeably, but it is important that you know how each plays a unique role in your business or...Inflation Reduction Act: IRS Funding Explained
On August 19, 2022, President Biden signed the Inflation Reduction Act (IRA) in the summer of 2022. The Act had many objectives, including lower prescription drug pricing, reducing climate change, and reallocating the share of taxes. Along with its stated primary...Book your session now!
IRS Announces New R&D Tax Credit Guidelines
The R&D tax credit was implemented in 1981 as a means to encourage businesses to increase innovation investments. However, the IRS recently announced new R&D tax credit guidelines that could have major implications for businesses hoping to claim this valuable...Blog Archives
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