Should Your LLC Be Taxed as a Partnership or an S-Corp?
When taxed as an S-Corp, you pay yourself a reasonable wage, and the remaining income is a distribution that avoids FICA taxes!
Understanding the New Tax Law…with Ice Cream
You can learn a lot from ice cream if you pay attention. A few years ago, a brother-sister team launched the Simply Scrumptious Ice Cream Pontoon Boat on Lake Tillery. Its bright yellow bimini top matches the paneling which displays a rotating list of homemade ice creams, custards, and cookies. It really hits the spot…
Is Social Security Going Bankrupt?
In short, yes. But don’t take our word for it: as seen in their 2017 annual report, the Social Security and Medicare Board of Trustees “project that the combined trust funds will be depleted in 2034“. However, the Social Security Administration and Congress have a few “levers” they can pull to extend this 2034 date…