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S corporation

S Corporation Reasonable Compensation Calculator

January 7, 2025 By Stephen Nelson CPA

S corporation reasonable compensation calculator

Tax law requires S corporations to pay shareholder-employees reasonable compensation. The S corporation reasonable compensation calculator below … [Read more...] about S Corporation Reasonable Compensation Calculator

Filed Under: Calculators, S corporation

Using ChatGPT to Determine S Corporation Reasonable Compensation

September 9, 2024 By Stephen Nelson CPA

You can use ChatGPT to set S corporation reasonable compensation.

A disclosure to start this discussion about using ChatGPT for determining S corporation reasonable compensation. I do not think the large language … [Read more...] about Using ChatGPT to Determine S Corporation Reasonable Compensation

Filed Under: S corporation

Advanced S Corporation Tax Planning Secrets

July 8, 2024 By Stephen Nelson CPA

Advanced S corporation tax planning techniques are available to most entrepreneurs.

Five million small businesses operate as S corporations. And surely most of those folks know the simple trick for saving money with an S corporation. … [Read more...] about Advanced S Corporation Tax Planning Secrets

Filed Under: entrepreneurship, S corporation

Tax Strategy Tuesday:  One Person S Corporation

December 6, 2021 By Stephen Nelson CPA

This Tuesday's tax strategy: The one person S corporation.

In a few weeks, one tax year ends and a new tax year starts. For that reason, it makes sense to talk about a powerful tax strategy for small … [Read more...] about Tax Strategy Tuesday:  One Person S Corporation

Filed Under: business taxes, Corporate taxation, S corporation, Tax Strategy Tuesday

Build Back Better S Corporation Tax Hits High Income Taxpayers

November 15, 2021 By Stephen Nelson CPA

Build Back Better S corporation tax hits high income taxpayers.

The Build Back Better Act hits S corporation owners and active real estate investors a bit harder than some of us guessed. In a nutshell? It … [Read more...] about Build Back Better S Corporation Tax Hits High Income Taxpayers

Filed Under: Corporate taxation, individual income taxes, real estate, S corporation Tagged With: Build Back Better

Biden Tax Plan Starts Long Slow Death of the S Corporation

September 19, 2021 By Stephen Nelson CPA

Bid tax plan starts slow motion death of S corporation.

I guess it had to happen. Eventually. The end of the S corporation, I mean. People have complained about the loophole, gosh, probably since … [Read more...] about Biden Tax Plan Starts Long Slow Death of the S Corporation

Filed Under: business taxes, Corporate taxation, S corporation

IRS S Corporation Shareholder Salary Data

April 8, 2021 By Stephen Nelson CPA

IRS S corporation shareholder salary data blog post

If you operate as an S corporation, you already know that you need to set a salary for shareholder-employees. A reasonable one. And you hear lots … [Read more...] about IRS S Corporation Shareholder Salary Data

Filed Under: Corporate taxation, S corporation

Covid-19 Late S Corporation Elections

January 28, 2021 By Stephen Nelson CPA

Image of monkey wrenches for a Covid-19 late election blog post. Because Covid-19 is a monkey wrench for late S elections.

Like most small business CPA firms, we love S corporations. Oh, no, it’s true. Call us crazy. But we love the way they help entrepreneurs reduce … [Read more...] about Covid-19 Late S Corporation Elections

Filed Under: business taxes, COVID-19, S corporation

Late S Corporation Payroll Hacks

November 4, 2019 By Stephen Nelson CPA

This time of the year, tax accountants confront a common problem. That problem? Well, okay, this is awkward… but somehow, no one quite knows how, … [Read more...] about Late S Corporation Payroll Hacks

Filed Under: business taxes, S corporation

S Corporation Home Office Deduction Revisited

September 3, 2018 By Stephen Nelson CPA

Picture of home office for the S corporation home office blog post

My oldest friend (since 5th grade) is also a CPA. At lunch last week, he made a great observation. If you run your business as an S corporation and … [Read more...] about S Corporation Home Office Deduction Revisited

Filed Under: business taxes, S corporation

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Nelson CPA publishes this blog to help and encourage small business owners. Click here to learn more about our firm.

S corporation Tools

Use our S corporation tax savings calculator to make a quick estimate of the annual tax savings per owner.

Use our S corporation reasonable compensation calculator to estimate appropriate shareholder-employee salaries.

Featured Posts

Washington state estate tax pushes wealthy residents to consider estate planning options.

Planning for the 35% Washington State Estate Tax

Washington state levies an estate tax of up to 35% on estates of decedents dying on or after July 1 2025. That new rate is by far the highest estate … [Read More...] about Planning for the 35% Washington State Estate Tax

the new Washington state professional services sales tax starts October 1, 2025.

Washington State Professional Services Sales Tax

Starting October 1, 2025, Washington State levies a sales tax on many, maybe most, business professional services. Thus, if you’re a business … [Read More...] about Washington State Professional Services Sales Tax

Washington state qualified family-owned business interest deduction

Washington’s Qualified Family-Owned Business Interest Estate Tax Deduction: Updated for 2025

Washington state taxes the estates of high-net-worth residents and high-net-worth nonresidents who own property in the state. The tax rates start at … [Read More...] about Washington’s Qualified Family-Owned Business Interest Estate Tax Deduction: Updated for 2025

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