Wednesday Dec 07, 2022

13 \\ Avoid an IRS Audit: How to Pay Yourself the Right Way as an S Corp Owner

Struggling to figure out how much to pay yourself as a small business owner? This episode dives into the confusing topic of “reasonable compensation” for S Corp owners and breaks it down in a way that’s easy to understand. You’ll learn what the IRS expects, why paying yourself the right amount is critical, and how to avoid costly penalties. We also explore how to balance your paycheck with your business’s cash flow, even if you’re just starting out or running a side hustle. Whether you’re unsure about payroll consistency or want tips to stay on the IRS’s good side, this episode has you covered. Tune in to gain clarity and set your business finances on the right track!

 

Next Steps:

💰Pay Less in Taxes – Start Here! 💰

☎️ Are you overpaying in taxes every year?  Schedule a FREE discovery call to find out!

📧 Contact Me --> hello@phillipsbusinessgroup.com 

📲 Follow me on IG @ the.tiffany.p.cpa

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