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1:14
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Boris Musheyev, CPA
Why S Corporation Owners Get Audited
A lot of business owners love the S corporation but hate paying themselves a salary. They don't want the payroll taxes. Here's the problem. On Form 1120-S there's a line 7 for reasonable compensation. If that box is blank or way too low compared to your profit and distributions, your audit risk goes way up. And if you lose that audit, the IRS ...
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