If you were to loan me $20k today, would you insist on loan documents, regular payments, and interest? Of course you would! Such requirements and documentation would seem to be common sense, so why do many shareholders fail treat the loans to their S-Corporations the same way?
An S-Corporation is a separate legal entity, and any [...]
Posts Tagged ‘distributions’
Loans from S-Corporation Shareholders
Posted in S-Corporations, tagged distributions, documentation of shareholder loans, interest on loans from S-Corporation shareholders, loans from shareholder, payment of shareholder expenses, S-Corporation, S-Corporation shareholder on May 18, 2009 | 14 Comments »
Reasonable Wage For S-Corporation Shareholders
Posted in S-Corporations, Tax Planning, tagged distributions, IRS audit, Oregon unemployment tax audit, payroll, Payroll Tax, reasonable wage, S-Corporation, S-Corporation shareholder wages, year-end planning on October 9, 2008 | 3 Comments »
For those of you with S-Corporations, now is the time of year to look at your wage for the year-to-date as well as start the planning for 2009. A “reasonable wage” needs to be paid to more than 2% shareholders in S-Corporation, and there is still time to make changes without incurring payroll tax penalties.
This [...]
PDXCPA Twitter Tax Updates
- Worker, Homeownership, and Business Assistance Act of 2009 - great CCH summary now available: http://bit.ly/3Sf5O3 1 week ago
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- IRS faces challenge on sole-proprietor expense deductions http://sbne.ws/r/32Y7 1 month ago
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Recent Posts
- Worker, Homeownership, and Business Assistance Act of 2009
- New Tax Q&A Website – TaxQueries.com
- Update on S-Corporation Failure to File Penalty
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- Oregon Income Tax Increases – Sales Tax in Disguise?
- Single Member LLC Owner Liable for Unpaid Employer Payroll Tax
- Oregon 2009 Individual Income Tax Increases
- Oregon Business Tax Increase Update
- Loans from S-Corporation Shareholders
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