Menu
10Steps1
…………….

10 STEPS TO SLASH S-CORP TAXES….

  1. Reduce S-Corporation Owner’s Wages
    As the owner of an S-Corporation, you can legitimately cut payroll taxes by thousands of dollars by paying yourself a lower salary and taking the rest of your income as distributions. But you need to make sure that you don’t drop your salary below what the IRS considers “reasonable compensation.”
  2. S-Corporation Covers. the Owner’s Health Insurance Premiums The S-Corporation can establish a health insurance plan for the owner-employee who owns more than 2 percent in one of two ways: 1) the S-Corporation pays the premiums for the owner-employee and family, or 2) the S-Corporation reimburses the owner-employee for the premiums.
  3. Employ Your Child The S-Corporation owner must pay payroll taxes on the child’s wages, but the family enjoys a decrease in income taxes. Each child can earn up to $12,000 without paying any federal income taxes.
  4. Sell Your…