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Why Paying yourself under an S-Corp does SAVE you money! We are asked so many times - why do I have to pay payroll taxes - why can't I just transfer money to my personal account. Well, for starters, to be compliant with filing as an S-Corp, you must pay yourself a "reasonable salary". (We will address "reasonable salaries" in another post). While having an S-Corp you can do both, take a W2 Salary and Owners Distributions. The Facts Self-Employment Tax is the FICA Tax that
As the holiday season approaches, many people increase their charitable giving. This generosity benefits communities and causes, but it also comes with important tax rules that donors must follow. The IRS has issued a clear reminder for taxpayers preparing their 2025 tax returns: donors need proper acknowledgment letters for any charitable donations of $250 or more . Without these letters, the IRS can deny the deduction, potentially costing taxpayers thousands of dollars in l
