S-Corporation Compliance Package

The S-Corporation tax election is a big decision that balances tax advantages against numerous compliance requirements. Whether you need a compliance and tax optimization review on an existing entity or just about to launch; let us help you avoid trouble!

• Filing the S-Corporation election with the IRS. Did you do it in time? If not, there may be solutions.
• Reasonable Compensation estimation: the IRS requires shareholders who provide services to the S-Corporation to be paid “reasonable compensation”, basically what you would pay another person to do that job for you! This is an area of enforcement focus for the IRS and the penalties can be steep. Let us help you determine compliant compensation.
• Accountable plans: certain expenses, like home offices and vehicle usage, can be reimbursed to shareholders of S-Corporations. We can provide you the guidance to do this right.
• Bookkeeping and Best Practices: with the higher compliance enforcement focus, we feel it’s imperative to have your records in order and this is best done on an ongoing basis, not an annual scramble.

The S-Corporation is an IRS enforcement focus item: be ready!

Contact us to get your S-Corporation in compliance.