Sherman Standberry, CPA

In addition to federal and state income tax, most business owners must also pay a 15.3% self-employment tax. As you can imagine, this tax is an unpleasant surprise for many new business owners. Fortunately, there are several provisions in the tax law that allow taxpayers to significantly reduce their self-employment tax. Or, even better, avoid […]

Which business structure is best for your business – an LLC or an S-Corp? This is a critical question for small business owners because your entity will directly impact the amount of taxes you pay. There are over 20 million registered LLCs in the US, compared to just 5 million S corporations. Yet, the S-Corp