S corporation shareholders have an added reason to worry about their company’s annual performance: It has a direct impact on their own income taxes. How It Works Unlike a regular C corporation, an S corporation usually doesn’t pay federal income taxes itself. Instead, each shareholder is allocated a portion of the corporate income, loss, deductions, […]

Withholding taxes are very important to the federal government. Payroll taxes account for over a third of all federal revenue. These taxes are even more important to American families. Many families do not prepay estimated taxes. Since they only pay withholding taxes, a good W-4 withholding plan is essential. Otherwise, a family could have a […]