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Doing Business in the 21st Century Electronic World

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Benefits and Dangers to Businesses and Taxpayers

Upgrade Your Business Document Processing Procedures

To Have Real Time:

  • Business Accounting
  • Total Accuracy
  • Document Processing
  • Virtual Filing

How We Are Impacted by "Big Data" and the Capabilities of Computer Access to That Information

“Big Data” is actually the total accumulation of information on the world wide web. This information is from all kinds of interactions between businesses, governmental entities, and individuals; including documents filed with governmental agencies (i.e. the IRS, the Securities and Exchange agency, etc.), information exchanged between businesses in the same industry (i.e. insurance companies, marketing companies, etc.) and even personal and business e-mails.

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What is "Reasonable Compensation"?

What is Reasonable Compenasation to the IRS?Reasonable Compensation is a current high priority issue for the IRS concerning all corporations, especially S corporations

Wage Compensation for Corporation Officers

Corporate officers are specifically included within the definition of employee for FICA (Federal Insurance Contribution Tax Act), FUTA (Federal Unemployment Tax Act), and federal income tax withholding under the Internal Revenue Code. When corporate officers perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered wages. Sub-chapter S corporations should treat payments for services to officers as wages, and not as distributions of cash and property or loans to shareholder or limited liability company members.

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The Tax World for Businesses

No Avoidance of the Taxing Authorities.No Avoidance of the Taxing Authorities.

If you believe that you know all of the taxes your business may be exposed to, you will probably be wrong. Is it 4, 5, more?

The best way to minimize the impact of taxes on your business is to develop an overall tax strategy plan. This plan will help you and your tax adviser to anticipate the tax or filing requirement before it comes up. Planning also allows you to plan to take advantage of every possible legal reduction of your taxes.
All Businesses will have Certain "Basic" Taxes.

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