4 Great Reasons to Take Payroll as an S-Corp Owner

As you probably know, October is tax planning month for us at Team Holly. We’ve already posted some blogs about what kinds of financial decisions might warrant a call to your CPA (so you can assess the tax impacts of your choices), and some investment tax planning strategies. So what do S-Corp payroll and tax […]

Business Structures 102: The Corporation Showdown

Our last post compared LLCs and Partnerships. If you’re starting your own business, enjoy today’s post comparing some tax advantages for LLCs and corporations. LLC (Limited Liability Company) vs. Inc. (Corporation) The biggest advantages of an LLC over a corporation are flexibility in management and pass-through taxation. While corporations must have a formal management structure […]

Business Structures 101: What’s Best For You?

You’re starting your own business. You’ve got a lot on your mind – creating your product/service, marketing, location, business plan, licenses, permits, financing, and more. One of the most important things to consider before you get going, though, is your business structure. Will you set up your business as a sole proprietorship, a partnership or […]

10 Down & Dirty S-Corp Tax Tips

Do you own an S-Corp, or are you thinking about starting one? According the IRS, about 70% of all corporations filing tax returns are S-corporations (including regular corporations and LLCs electing the S-corp status). S-corporations tax returns also get more scrutiny from the IRS. Here are ten down and dirty things to know: S-corporations pass […]