Tax Strategy Blog for Business Owners

This is Part 3 of a four-part series on the qualified business income deduction. Missed the first two? Read Part 1 and Part 2 — they're here. Still on paychecks this week. Last week I told you which side of the line you're probably on. If you're over it, this is the post that matters […]

Your S-corp reasonable compensation, your entity election, your whole tax structure — most owners set them up once and never look again. I asked a business owner a simple question last week: why are you set up as an S corp? She paused. Then she said: my CPA set it up years ago. I trust […]

The S-corp health insurance deduction is one of the easiest deductions to lose without realizing it — and if you employ family, you may be losing it right now. Do you have a spouse, kids, or other family members who work in your S corp? Do you cover their health insurance? If you do, there's […]

An S-corp accountable plan is the one-page document standing between you and hundreds or thousands of dollars in lost deductions every year. If you elected S-corp status to save on self-employment tax — smart move — there's a catch most owners never hear about: you quietly lost your home office deduction, and maybe more. The […]