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S Corporation Owners – How Much Salary is the Right Amount?

Bharmal&Associates

First, if it’s too low and you get caught by the IRS, you will pay not only income taxes and self-employment taxes on the too-low amount, but also both payroll and income tax penalties that can cost plenty. Getting the S corporation salary right is important. Cost Approach. Planning note.

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Trucking Tax & Accounting by Mike Habib, EA Los Angeles, CA

MyIRSRelief

In addition to managing accounts receivable and accounts payable, professional bookkeepers can also help trucking companies develop a cash flow forecast. Tax Compliance Trucking companies must comply with a variety of tax laws and regulations, including federal and state income taxes, fuel taxes, and payroll taxes.

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Friday Footnotes: EY Pulls Out of Winston-Salem; Clients Exposed in Data Breach; Deloitte Olympians | 7.14.23

Going Concern

Prior to joining DLA, John served as a Partner with two National professional services firms, where he was the subject matter expert on business combinations, impairment analysis, income tax accounting, stock compensation, revenue recognition, and going concern analysis.