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S Corporation Owners, is Your Salary too Low?

Posted by Michael Beauchemin on Thu, Mar 01, 2012 @ 11:34 AM Are you an owner of an S Corporation?  If so, you may want to do a salary checkup and make sure your salary is reasonable and customary.  Ealier this year the Eighth Circuit Court upheld a lower court’s decision regarding the salary of the owner of an…

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Tax Benefit of S Corp Election for Small Business Owners is Targeted

Posted by Michael Beauchemin on Fri, Nov 16, 2012 @ 08:19 AM  One primary reason a business owners chooses to set up an S Corporation or an LLC with an S Corp election, is the tax treatment of distributions.  Unlike a sole proprietorship or partnership where business income is subject to self employment tax (Social Security and Medicare taxes)…

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BJ Upton’s Contract, Dividends and 2013 Tax Increases

Posted by Michael Beauchemin on Tue, Dec 11, 2012 @ 10:32 AM B.J. Upton (or B.J. Upton’s agent) recognized the impending tax increases in 2013.  Recently B.J. Upton signed a new five-year contract with Atlanta Braves.  The contract required that B.J. Upton receive a $3 million signing bonus. As part of the negotiated contract, a provision was included…

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Preparing Employees for A Possible Payroll Tax Increases

Posted by Michael Beauchemin on Thu, Dec 13, 2012 @ 09:50 AM Have you ever had an employee upset because the net amount of his or her check decreased unexpectedly?  Imagine your whole workforce upset because all their checks decreased unexpectedly.  Who will be the first person to hear about it?  Who has has to…

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