S-corporations (S-corps) are a popular choice for small businesses due to their tax advantages and flexibility. However, navigating the complex tax rules can be challenging without the right expertise. As a certified professional with extensive experience in tax planning, Svetlana Gadzhieva provides personalized solutions to help S-corp owners maximize their benefits and stay compliant with IRS regulations.
An S-corporation is a tax designation that allows businesses to pass corporate income, losses, deductions, and credits to their shareholders for federal tax purposes. This structure avoids double taxation, as profits are only taxed at the individual level.
Avoiding Double Taxation:
Unlike C-corporations, S-corp income is taxed only once at the shareholder level.
Self-Employment Tax Savings:
S-corp owners can classify part of their income as a salary (subject to payroll taxes) and the rest as distributions, which are not subject to self-employment taxes.
Deduction Opportunities:
S-corps can deduct business expenses like health insurance premiums, retirement contributions, and qualified business expenses.
Reasonable Compensation Rule:
The IRS requires S-corp shareholders to pay themselves a reasonable salary, which can be tricky to calculate.
Shareholder Basis Tracking:
Keeping accurate records of shareholder contributions and distributions is critical for tax compliance.
State Tax Variations:
While S-corp income is not taxed at the federal level, some states impose taxes on S-corp income or charge franchise taxes.
Svetlana Gadzhieva specializes in S-corp taxation and provides tailored services to meet the unique needs of business owners. Her expertise includes:
Accurate Compensation Planning:
Svetlana ensures that your salary aligns with IRS guidelines, reducing audit risks and maximizing tax savings.
Comprehensive Tax Planning:
By analyzing your business structure and financial goals, Svetlana identifies opportunities to minimize your tax liability legally.
State and Federal Compliance:
She ensures compliance with all relevant state and federal tax regulations, avoiding costly penalties.
Shareholder Basis Management:
Svetlana provides meticulous record-keeping to track your shareholder basis, ensuring accurate reporting and distribution calculations.
Year-Round Support:
Tax planning isn’t just for tax season. Svetlana offers ongoing guidance to help you adapt to new tax laws and optimize your financial strategy year-round.
With certifications as a CPA, Svetlana combines global expertise with personalized service. Her experience in both individual and business tax planning makes her an invaluable partner for S-corp owners.
Taxes for S-corporations can be complex, but the right professional guidance can turn them into an opportunity for financial growth. Svetlana Gadzhieva is here to help you navigate the challenges, maximize your benefits, and achieve long-term success with confidence.