by Matthew Cohen, CPA BASICS If you read my article about S-corporation shareholders, you know it is important for them to take wages and report them on a W-2. On a separate front but somewhat…
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Does My Business Need to Issue 1099s?
by Matthew Cohen, CPA Basics In trying to navigate countless tax regulations, businesses and individuals often find themselves grappling with whether or not to issue 1099s. The Internal Revenue Service (IRS) mandates that these forms…
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Why S-Corporation Shareholders Need to Take Reasonable Compensation
by Matthew Cohen, CPA If you are a sole proprietor or a non-passive member/partner of an LLC/partnership you pay self-employment tax on every dollar of earned income. Shareholders of S-corporations on the other hand pay…
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Strategic Financial Insight…Why Business Owners Need Monthly Accrual-Based Accounting Services
by Matthew Cohen, CPA In this fast-paced world, running a business based on cash flow dangerous. Staying ahead often requires more than just reacting to financial activity. It demands a proactive approach. For business owners,…
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Employee Retention Tax Credit (ERTC) Take Advantage Before It’s Too Late
by Matthew Cohen, CPA Does your company have employees? Was your business affected by COVID-19? If not, did you service clients whose businesses were affected by COVID-19? If you answered yes to any of these…
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