Blog - Wage Optimizer
How to Get a Business Credit Card for a Young Business (and Why It’s Important)
It’s finally happening. Maybe you’ve registered your new LLC and are ready to start your new business. Maybe you’ve assembled your business plan and are looking into financing your dream company. Chance are a business credit card is looking like a great option — and it often is. But… Read More
7 Best Small Business Tax Deductions
Whether your small business is an S-Corp, LLC, or sole proprietorship, identifying and tracking tax deductions should be an integral part of your tax planning strategy. The following 7 tax deductions are the most common and generally the most lucrative deductions for a small business employee owner to take. It… Read More
Considering the S Corp Election for your LLC?
The S Corporation is a tax status election that conveys certain benefits over “regular” type LLCs: sole proprietorships and partnerships. Namely, the most-often cited tax benefit is the ability to classify some of the business’s net profit as distributions of profit to officers of the corporation. These distributions are not… Read More
S Corporation Business Expenses “How To” Guide
Like any other business organization, the S Corporation must account for business expenses and deduct these expenses from Gross Receipts in order to calculate business income. WageOptimizer.com’s calculator helps S Corp employee owners quickly calculate business income for allocation to officer wages, profit sharing plans, profit distributions and self-employment taxes. Today’s… Read More
An S Corp Officer’s Reasonable Compensation “How To” Guide
One of the primary tax benefits of organizing a business as an S Corporations is the ability to pass business profits directly to an employee owner (officer) in the form of profit distributions which are subject only to regular income tax, thereby alleviating self employment tax to a degree. However,… Read More