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 [...]

By | January 2nd, 2017|Categories: 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 [...]

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Why Do We Need Accounting?

A good recordkeeping system includes a summary of your business transactions. Business transactions are ordinarily summarized in books called journals and ledgers. A journal is a book where you record each business transaction shown on [...]

By | November 28th, 2016|Categories: Uncategorized|Comments Off on Why Do We Need Accounting?

NTPI Fellow

For Immediate Release 89 Tax Practitioners Complete Rigorous National Tax Practice Institute™ and Earn Elite Designation Washington, DC, November 18, 2014 – Eighty-nine tax practitioners have earned the prestigious Fellow designation from the National Association [...]

By | January 7th, 2016|Categories: Uncategorized|Comments Off on NTPI Fellow

Corporate Tax Preparation – Basic Information

There are three categories of business: small, medium, and large. A small business corporation can be defined as having a stock value of under $1 million at its inception and annual gross income of less [...]

By | January 4th, 2016|Categories: Uncategorized|Comments Off on Corporate Tax Preparation – Basic Information