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Posts Tagged Payroll Taxes

President of Company held as Responsible Person Liable for Unpaid Withholding Taxes

The case described below is a perfect example why it is extremely important to be vigilant about the people you hire and the intricacies of how your business is being ran, regardless if you are willfully involved in the illegal act or not. You don’t ever want…

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Two Important Factors used to Determine Reasonable Compensation for S Corporation Shareholders

Taxable income as calculated on the U.S. Federal Return for an S corporation flows through to its shareholders and is taxed at the individual level, not subject to self-employment tax. Because the income from the S Corporation is taxed when it is reported on the federal tax return…

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