I am a one man S-Corp. Do I need payroll?

The IRS wants you to pay yourself a salary that you’d pay someone else to do your job for you.

The biggest risk you can take as an S Corp owner-employee is to take no salary at all. It is relatively simple for the IRS to develop a report of 1120S returns with no owner’s compensation and net profits or distributions, which means it’s hard to hide from the IRS if you aren’t paying yourself a salary. This is a red flag for the IRS and creates an easy court case for the IRS to win if you happen to get audited.

The benefit of an S Corp is the amount of net income that is produced over and above the amount of the salary paid does not have the Social Security or Medicare tax applied thus saving tax dollars.

I have Tax write offs and business expenses, do I still need taxes withheld?

The simple answer is yes, however the way we will set up your payroll is going to vary by business.

For most one man LLC., we will set up a net zero check.

The term "net-zero paycheck" refers to a situation where an employee's gross pay is entirely offset by deductions and taxes, resulting in no take-home pay for that period. This can occur due to various factors, such as outstanding debts, excessive voluntary deductions, and statutory deductions.

Is Payroll Expensive?

No, We have custom pricing that is extremely competitive for industry standards, and we only run payroll as often as is needed to benefit you the most. Contact us to learn about the package that will benefit you the most!

I want to grow my business in sales. Can BAM Co. Help?

Yes! We have specialized in door to door and in home sales for the last 5 years. Having sold and knocked doors across the Unites States we are familiar with multiple markets and products. Schedule a consulting call with us to boost your teams sales.

Can you help with book-keeping or other tax questions?

Having graduated with a bachelors in accounting and working closely with an accounting firm we can get you in touch with anyone you need to get your books tracked, and can schedule consulting calls to go over tax advice and questions.