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Summer is a great time for S-corporation owners to take a step back and review one of the most scrutinized areas of S-corp taxation: reasonable compensation. Why It Matters If you operate your business as an S-corporation and provide services to that business, the IRS requires you to pay yourself a “reasonable” salary through payroll...
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Here are five ways to elevate your donor acknowledgment 1. Know the IRS Thresholds Any single contribution of $250 or more requires a written acknowledgment from your organization before the donor can claim a tax deduction. The letter must include: 2. Timing Matters Donors need their acknowledgment letters in hand by the time they file...
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