Not every one-person corporation pays or even can pay an annual salary of $40,000 to the shareholder-employee. But a salary of $40,000, it turns out, … [Read more...] about Quick and Dirty Payroll for One-person S Corps
Archives for July 2013
Why You’re Working Too Hard
I got some sad news last week. A friend, actually another small business owner, had finally reached the breaking point. He had found he was working … [Read more...] about Why You’re Working Too Hard
Steps for Electing Sub S Status for Washington LLC or Corp
In earlier posts, I've described how to set up your own Washington corporation or limited liability company. And I've talked about the rules for and … [Read more...] about Steps for Electing Sub S Status for Washington LLC or Corp
Pension Deductions Versus Payroll Taxes
I've been hanging out at the bogleheads.org forum recently. And in a discussion about business owner salaries, another forum member asked how one … [Read more...] about Pension Deductions Versus Payroll Taxes
How to Make S Elections for Washington Businesses
Both Washington state corporations and limited liability companies can elect to use the tax accounting rules described in Subchapter S of the Internal … [Read more...] about How to Make S Elections for Washington Businesses
Forming a Washington State Corporation
You can pay one of those online services to set up a Washington corporation. But if you’re at all the do-it-yourself type, the actual steps you take … [Read more...] about Forming a Washington State Corporation