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The IRS may object to the compensation of C corporation shareholder-employees. If it’s deemed too high — or not “reasonable” under the circumstances — the IRS could force you to make adjustments that increase taxes. This can be particularly troublesome for C corporation owners and executives who are also shareholders, because they’ll then be hit…
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If your company engages in research and development, you’re driven to innovate and bring new products and improvements to market. It’s that spirit of discovery that keeps businesses in the United States on the leading edge. Even better, you may qualify for a lucrative federal tax credit for some of your expenses related to R&D.…
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Auditors reconsider the “going concern” assumption every time they audit your financial statements. When your company’s long-term viability is doubtful, it may cause the auditor to issue a qualified audit opinion. Depending on the level of uncertainty and the underlying reasons, a qualified opinion could raise a red flag that your company is under financial…
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