S Corp Advantages
In spite of the growth and popularity of limited liability companies taxed as partnerships, S corporations remain a very popular option for doing business. Internal Revenue Service records show that S corporations remain the most popular way for a business to file tax returns.
S corporations also have traditionally offered more certainty for owner/operators as to which distributions are employment-related and which are capital-related.
Of course, any distributions are subject to risk of recharacterization by the IRS, but as long as employee compensation was reasonable, practitioners felt fairly comfortable with the ability to segregate what was compensation and what was a distribution on capital.
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Tax credits for hiring new employees
A majority of businesses are seldom familiar with the wide variety of incentive credits.
Those that do know about them tend to materially understate the benefits and often claim nothing at all. So the employee who is aware of what they can bring to the table will often be providing their future employer valuable information.
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Gold Star Business Services is available to discuss these issues with you at your convenience. |
