Reasonable salary analysis
S-corp owner compensation is the single biggest planning lever for most small business owners. Paying too much gives up payroll-tax savings; paying too little invites audit and reclassification. We model the defensible range using comparable-salary data and document the position.
Entity elections and timing
The decision to elect S-corp tax treatment usually pays off once net income clears roughly $45,000. Timing the election matters: Form 2553 is due 75 days into the tax year you want it effective, with late-election relief available in most cases.
Retirement plan structuring
The right retirement plan depends on owner income, number of employees, and contribution preferences. Solo 401(k), SEP-IRA, SIMPLE IRA, and defined benefit plans all have trade-offs we walk through.
Section 179 and bonus depreciation
Equipment purchases in the right year at the right amount can substantially reduce current-year tax. We model the bonus depreciation phase-down and Section 179 limits for your specific income level.
How the engagement is structured
Planning runs on the quarterly calendar: a projection meeting after each quarter closes, a written summary of the decisions modeled and their dollar impacts, and a check-in before any large transaction. Clients who also keep their books with us get projections built from live numbers instead of estimates, which makes the recommendations sharper.
Common questions
- How often should we meet?
- Quarterly for most active business clients, with extra touches before major transactions.
- Can planning help if my business is losing money?
- Yes, sometimes more than when it's profitable. Loss utilization, NOL carryforwards, and timing of recognized losses all matter.
- Do you bill hourly or flat-fee?
- Flat-fee for most planning engagements, scoped annually based on business complexity.
- Is planning included with the tax return?
- The return engagement includes the questions that come up during preparation. Structured quarterly planning with projections and written summaries is scoped as its own engagement, because it's forward-looking work on its own calendar.
Related
Corporation & Partnership Tax Returns
Forms 1120, 1120-S, and 1065 preparation for corporations, S-corps, and partnerships, plus owner K-1s, shareholder basis tracking, and multi-state filings.
Tax Planning
Year-round tax planning for individuals and business owners. We project the year's income quarterly and model decisions before they become tax liabilities.
Other services we offer
Sales Tax Planning
Florida sales tax registration and multi-state nexus filings. We handle monthly DR-15 returns and correspondence with the Florida Department of Revenue.
Monthly Bookkeeping
Monthly, quarterly, and annual bookkeeping with bank reconciliations, a profit-and-loss report, and balance sheet within ten business days of month-end.
Small Business Payroll
Quarterly and annual payroll filings: Forms 940, 941, UCT-6, W-2, and 1099. We calculate, file, and make the tax deposits so owners can focus on growth.
QuickBooks Setup & Support
QuickBooks setup, cleanup, and monthly reconciliation for small businesses. Chart of accounts, bank feeds, and monthly reports that match the tax return.