A client asked a couple of interesting questions a week or two ago. Questions about S corporation foreign shareholder-employees. First, can an S … [Read more...] about S Corporations with Foreign Shareholder-employees
Surviving a Washington Department of Revenue Audit
I’m going to do a short post this week—one that covers some information you want to know if the Washington State Department of Revenue decides to … [Read more...] about Surviving a Washington Department of Revenue Audit
Small Business Rainy Day Funds
You know that phenomenon where suddenly you hear people use some strange word two or three times over the course of a day or weekend? And, like, you … [Read more...] about Small Business Rainy Day Funds
Quick and Dirty Payroll for One-person S Corps
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
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
What Sort of Accounting System Does a Small Corporation Need?
I've been working with the new version of QuickBooks the last couple of weeks. And that activity has made me think in very general terms about the … [Read more...] about What Sort of Accounting System Does a Small Corporation Need?