Reasonable Compensation

S corporation required to pay reasonable compensation. S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee. The amount of reasonable compensation will never exceed the amount received by the shareholder either directly or indirectly. The [...]

By | January 2nd, 2017|Uncategorized|Comments Off on Reasonable Compensation

Form 1099-MISC, Miscellaneous Income

File this form for each person to whom you have paid during the year: at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest; at least $600 in: rents; services performed by someone who is not your employee; prizes and awards; other income payments; medical and health care payments; crop [...]

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