Running your business as an S corporation can offer a lot of valuable benefits.
But be careful! If you don’t follow the law closely, you could lose big deductions and have to pay additional taxes, penalties, and interest.
How can you help make sure that you comply with the law and avoid legal problems?
Easy. Read my new article titled Tax Tips: Tax Law Prohibits the Assignment of Income to Your S Corporation.
Three ways our fact-filled article can help you:
- We’ll tell you how to cash your checks the right way. Do you receive checks and then endorse them over to your S corporation? That’s a violation of the law and can get you in hot water with the IRS. To get the full story, and learn how to handle things right, read the full article.
- You’ll learn how to avoid a tax planning tragedy. In order to save on self-employment taxes, some business owners change their proprietorship to an S corporation. But if this switch isn’t handled correctly, huge problems can follow. To help avoid them, read the full article.
- You’ll meet three taxpayers who took on the IRS. We’d love to tell you that they beat Uncle Sam but unfortunately they lost. Why they lost is extremely instructive and can help you avoid their fate. You’ll get the whole story when you read the full article.