Setting reasonable compensation is one of the most important — and often overlooked — compliance issues for C corporation and S corporation owners. Getting it wrong can lead to IRS audits, reclassified income, back taxes, penalties, and a major headache. Whether you’re paying yourself too much or too little, the
Staying on top of payroll tax compliance is non-negotiable for small businesses. A single misstep can result in hefty fines, strained employee relationships, and even legal trouble. Whether you’re managing payroll yourself or working with a provider, understanding the essentials can save you time, money, and a whole lot of
When most people think of estate planning, they imagine married couples or parents making arrangements for their children. But estate planning for single individuals is just as important — maybe even more so. If you're single and don’t have children, you may assume estate planning doesn't apply to you. The
Comedian Jeff Foxworthy is famous for his “You Might Be a Redneck If…” one-liners—but when it comes to your finances, there’s a more serious version to consider; you might need a CPA if… Do I really need a CPA? If you’ve ever felt overwhelmed by taxes, confused by business regulations,
Starting or expanding a business often requires significant capital. Whether you're launching a startup or growing an established company, understanding your funding options and how to secure financing is essential. Here are the top ways to fund your business and what you'll need to prepare for a successful funding application.
Choosing the right entity for your business is essential for tax considerations, liability, and growth potential. An S corporation may provide benefits, but there are also limitations. Here are some advantages and disadvantages of choosing the S Corp entity. Ownership & Stock An S Corp can have no more than
It may be one of the most challenging things to do as a parent – choosing a guardian for your children if something happens to you. There are many reasons to consider choosing a guardian for your children regardless if you are a single parent or have a partner/spouse, including
DWC CPAs and Advisors is more than just accounting, audits, and tax compliance—we’re your partners in financial success. We take a holistic approach to help you grow your wealth, secure your future, and leave a lasting legacy. That’s why we’re thrilled to introduce the DWC Wealth Advisors’ YouTube channel! Here,
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is the agency that enforces the Corporate Transparency Act (CTA). Recently, FinCEN sent out a notice indicating a new deadline of March 21 for small businesses to comply with its beneficial ownership information (BOI) reporting requirement. A nationwide injunction was issued, temporarily
The executors are settling an estate — but the decedent owes money. What can the creditors take and what is reserved for the inheritors? There is no easy answer, and a variety of federal and state laws apply. To start with, retirement accounts that qualify under the Employee Retirement Income
