S Corp Payroll
Why Choose Us?
In short: we'll take care of your payroll while making sure you are all set tax-wise.
1. Satisfying "Reasonable Compensation" Requirement.
Our CPA firm handles business owners' payroll filings (well, Gusto does the paperwork but we do most of the decision-making). A key requirement for S-Corp owners is "reasonable compensation," which, in simple terms, means paying yourself fair wages. We keep this requirement in mind and work around it, simplifying your tax situation in many aspects. We also consider factors like how much time you dedicate to the business or its profitability in a given year. If you're working less or the business isn’t as profitable, there might be an opportunity to reduce your reasonable compensation—meaning lower self-employment taxes for you. We'll always provide you with strategic insights to help you save.
2. Smart Payroll Adjustments for Zero Surprises.
We handle your bookkeeping while you're working; your financials are timely, overseen by a CPA and are free from inaccuracies. This allows you to save time and also base your decisions on solid financials. Our proactive support helps you identify accurate profit margins and opportunities for growth, allowing you to focus on the the most profitable areas of your business.
3. Flexible Year-End Bonus Strategy.
Some S-Corp owners prefer to do their tax planning at the end of the year and pay the remaining tax liability by issuing themselves a bonus and applying this bonus toward their estimated tax liability for the year. This works well, and the only difference between the two strategies is your money management preference: do you want to part with your cash gradually throughout the year or keep it in your account until December and part with it then? Either way, we’ve got you covered.​​
4. Insurance Premiums and 401k Contributions.
We also assist with setting up 401(k) contributions and self-employment insurance premiums in the payroll system ensuring they’re reflected correctly on your W-2.