by Steven J Weil, PhD, EA, LCAM | Nov 20, 2023 | Blog, Business Tax
Sales Tax in Florida Can Be Complex Think You Understand Florida Sales Tax? Confusion can be as close as your next trip to the grocery store. While many think it’s a simple as what you can eat and what you can’t — this is just not true. Let’s review some...
by Steven J Weil, PhD, EA, LCAM | Nov 15, 2023 | Blog, Business Tax
Now Is The Time To Verify Information Needed for 1099-MISC’s and 1099-NEC’s Businesses that pay $600 or more for services or rents during the year should review vendor information to make sure they have what they need to prepare the required forms at the end of the...
by Steven J Weil, PhD, EA, LCAM | Nov 4, 2023 | Blog, Business Tax
FinCEN Small Business Beneficial Ownership Information Reporting Compliance Guide FinCEN Publishes Small Business Beneficial Ownership Information Reporting Compliance Guide: The Financial Crimes Enforcement Network (FinCEN) has published a Small Entity Compliance...
by Steven J Weil, PhD, EA, LCAM | Oct 22, 2023 | Blog, Business Tax, Personal Tax
Tax planning is one of the best ways we know to reduce your tax bill, and at RMS Accounting we take a proactive approach to helping clients pay the lowest amount of tax allowed by law. We do this through a two-step process. Step 1 requires us to keep up to date with...
by Steven J Weil, PhD, EA, LCAM | Oct 14, 2023 | Blog, Business Tax, Payroll Preparation
Calculating Reasonable Compensation Since reasonable compensation is important for S-Corporate Owners here is a list of some of the information that should be considered when calculating it. What would you need to pay someone else to do what you do? Which leads to the...
by Steven J Weil, PhD, EA, LCAM | Oct 5, 2023 | Blog, Business Tax, Payroll Preparation
What is Reasonable Compensation and Why Should I Care? If you own all or part of a S-Corporation you are required to receive reasonable compensation as wages — subject to payroll taxes as an employee of that S-Corporation. Positions like President, Treasurer or...
