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S Corporation reasonable officer salary reminders

As discussed often, the S Corporation requires the officer to have a reasonable salary (w2). The reasonable requires your salary to be: In line with the net profit or losses of the company - A start up company having losses might not have officer salary (neither owner distributions) You should perform a benchmark for your

By |2024-11-18T04:39:59+00:00January 27th, 2025|Categories: Business, Individuals|Tags: , , , , , |

Texas Federal court struck down the DOL exempt salary rule

Earlier this month, a Texas Federal judge struck down the DOL (Department of Labor) exempt salary rule that raised the minimum salary as exempt from overtime and minimum wage requirements under the Fair Labor Standards Act (FLSA). It is reverted now to the rules before July 1, 2024. The salary level test amount for executive,

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