Recent Articles

FICA

Federal Insurance Contributions Act or employment tax, it is no longer used in tax terminology but some of us old timers still drop the term in our communications.

Owner Compensation in an S-Corporation

06/05/2015

One of the tax attributes of an S-Corporation over other forms of tax entities is the ability to reduce the overall tax obligation.  Naturally the lower the overall tax requirement the more profit generated for the owner(s).   The S-Corporation [...]

What is an S-Corporation?

03/03/2013

Within the family of corporations, the Internal Revenue Service (IRS) grants tax free status to S-Corporations.  It is strictly an IRS term.  In the IRS code, there are several subchapters pertaining to corporations; Subchapter S identifies and [...]

Self-Employment Tax: You Can Stop Staring At Me Now!

11/28/2012

I was in the attic once hunting down a noise, of course it was at night and I don’t have any lights in the attic to assist me.  So, I grabbed my son’s Boy Scout Flashlight that mounts on your forehead and headed up to find a raccoon staring at [...]