Frequently Asked Questions
The Answers You Need
I would like to meet with you for a consultation, but I'm not available during your business hours. When can we meet?
We are always happy to schedule appointments outside of our business hours. Call us today to set up an appointment time that is convenient for you!
How long should I keep my tax records for?
We recommend keeping your tax records for 5-6 years. The reason for that is if the IRS examines you or your business, then they can ask for documents up to 5 years prior, and you want to make sure you are always prepared for this.
Does changing my LLC to an S Corp change anything with my business?
No. When you elect an S corporation status you are only changing how your business gets taxed.
Once I elect S corporation status, do I have to start paying myself a salary?
Yes, all shareholders of an S corporation have to pay themselves a reasonable salary during the year. There are different ways to go about paying yourself, and we are happy to discuss them with you.
Contact us today to schedule a free consultation for more information.
Can I automatically fund a Traditional or Roth IRA every year?
To contribute every year you need to have earned income (wages or schedule C profits) in order to make a contribution to either a Traditional or Roth IRA.
For the most up-to-date information regarding contribution rules, contact us to schedule a free consultation.