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W2 Wages For S Corporation Officers

See: Wage Compensation for S Corporation Officers<

When corporate officers perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered wages.  Subchapter S corporations should treat payments for services to officers as wages and not as distributions of cash and property or loans to shareholders… 

"Distributions and other payments by an S corporation to a corporate officer must be treated as wages to the extent the amounts are reasonable compensation for services rendered to the corporation."

As your accounting and tax consultants, we advise our S Corporations to pay a Reasonable Salary to its officers who work for the company.

Walkthrough - Document Access Portal

Frankly, email is a poor and non-secure method to transfer files. To help serve you better, we are offering Document Access to all of our clients.

By logging in, you'll be able to download your tax returns, financial statements, et cetera. Additionally you can send us your organizers, bank statements, and QuickBooks files all in a quick, secure manner, and the system will notify us that it is available.

We've been working hard to ensure that all our clients are quickly setup on the system, if you have not received your welcome email yet, or would like to give an assistant access to your files as well, tell us by clicking here, and we'll set you up right away.

If you have already received the welcome emails, simply click the menu link on the right, 'Document Access', and if prompted install Microsoft's Silverlight. All modern browsers on Windows or Mac OS X are supported.

What is a Form 8752 & Why Do I Need To File It?

"Form 8752 - Required Payment or Refund Under Section 7519" is certainly not the clearest form title.

Simply:

The IRS asks Fiscal Year, S Corporations, and Partnerships to file a Form 8752. The IRS then holds in an escrow-like account an estimate of you would have paid if you operated on a calendar year end. Essentially its like a security deposit that a landlord may require from a tenant.

However, since it is "in escrow" you receive a portion of the funds back if your profit decreases from year to year, and your receive the funds back in total if there is a tax loss or the business is dissolved. 

What Scanner Settings Should I Use for Scanning Documents?

Scanning for document management is not the same as scanning for photo editing.

Documents should be scanned as a PDF, in 300 DPI black and white (not grayscale.) This will produce documents that are very readable, a reasonable size, and that will work well with OCR software<

Where Do I File My Companies Annual Report?

You file your companies Annual Report in the state that it was incorporated in, this is not necessarily the state that you do the most business in.

See the Page:http://www.famiglio.com/state-corporate-filing-websites<

Its a good reference, providing links to the various websites used by each state.

Where Do You Recommend I Shop For Software?

Typically we purchase our non-enterprise software from https://www.amazon.com/< and suggest others do the same.