Here are a few ways we can help:

  • How to determine if you should operate as an S corporation to take better advantage of the 20 percent deduction in the new tax code Section 199A.
  • How to use an IRS-approved method to set your salaries for excellent tax savings.
  • The best way for your S corporation to deduct vehicle and home-office expenses.
  • How S corporation owners can deduct health insurance in 2020—and what’s on the horizon in future years.11 Questions we typically receive on operating S Corporations 
    1. How to decide if you should operate your businesses as an S corporation, sole proprietorship, LLC, or C corporation now that you have (a) the tax reforms in the new Tax Cuts and Jobs Act (TCJA), and (b) final IRS Section 199A regulations.
    2. Who should consider eliminating their S corporation because of the new tax code Section 199A?
    3. How you can use the magic of nonvoting stock to your advantage.
    4. What it takes to audit-proof your salaries and slash employment taxes.
    5. How to use the S corporation to create the deductions you need to qualify for the new 20 percent tax deduction under Section 199A.
    6. How the S corporation should treat business vehicles that are in the owner’s name.
    7. How you can use Section 179 expensing, even for the equipment you buy yourself but use for corporate purposes.
    8. How the S corporation protects your home-office deductions and the one step you can take to ensure maximum deductions.
    9. How you can deduct the cost of individual and family health insurance in 2020 without worrying about the $100-a-day penalty—even when you don’t offer health benefits to employees—and what’s on the horizon for future years.
    10. How two enhanced expense reports can save money and protect you in an IRS audit.
    11. The overall impact that tax reform is having on the S corporation.

    Contact Meese Khan, LLP today for a complimentary consultation! 

    Phone: 623 935 1005