Regardless of the size of your business, LNK Tax Group urges businesses of all sizes to use a payroll services to streamline your operations, simplify administration, and improve productivity. Payroll services will help your business reduce labor costs, offer direct deposit to your employees, avoid unnecessary penalties.
According to the IRS, when corporate officers perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered wages, meaning that payroll must be issued. Subchapter S corporations should treat payments for services to officers as wages and not as distributions of cash and property or loans to shareholders. S corporations require a reasonable compensation or salary for all officers of the corporation, so it is very important to have professional payroll consulting on reasonable compensation and administering payroll.
Now that California has passed Assembly Bill 5 (AB5), it is as important as ever to have a knowledgeable professional on your side to help make sure your business stays in compliance. At LNK Tax Group, we are licensed professionals with over 20 years of experience. We sit down with you and make sure that you are paying people properly and we work with small business owners on issuing the proper amount of payroll to themselves (officer compensation) to maintain optimum tax efficiency.
LNK Tax Group is partnered with PAYCHEX for payroll services to ensure that employment tax returns are filed timely and employment tax deposits are properly timed as well as ensuring timely direct deposits to your employees.
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LNK Tax Group and PAYCHEX offer their clients peace of mind with their payroll consulting and payroll service. Contact our office at 661-491-7222 or 213-588-1120 or you can book a free consultation online to learn more about our payroll consulting services. We provide payroll services to businesses in Downtown Los Angeles and Santa Clarita including, Valencia, Stevenson Ranch, Newhall, Castaic, Canyon Country, Agua Dulce, Saugus, Rancho Santa Clarita, Sylmar, Mint Canyon, Val Verde, Mission Hills, Castaic Junction, Granada Hills, Porter Ranch, San Fernando Valley, and Los Angeles County.