S Corps: The Critical Rule You May Not Know About
Cannabis Taxation Tammie Snow Cannabis Taxation Tammie Snow

S Corps: The Critical Rule You May Not Know About

If you own an LLC that's elected to be taxed as an S corporation, there's a critical tax rule you might not be aware of: the "reasonable compensation" requirement. Many LLC owners choose S corp taxation for the tax savings but don't realize they're required to pay themselves a reasonable salary. This oversight can lead to serious problems with the IRS.

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