Business Owners Common Frustrations:
You’re not alone!

We understand the intricate landscape of running an S-Corp, and one critical aspect that demands attention is Reasonable Compensation. As experts in financial management and advisors to numerous S-Corp entities, we're here to shed light on this essential topic. Grasping Reasonable Compensation Essentials Foundational Requirement: It's important to note that every shareholder-employee within an S-Corp is legally obliged to provide themselves with a reasonable salary, known as Reasonable Compensation. This is achieved through the issuance of a W-2 form, a step that takes precedence over any distributions. Annual Assessment: We strongly recommend an annual Reasonable Compensation assessment. This can be carried out using one of the three IRS-endorsed methodologies, ensuring compliance and accuracy. Meticulous Record-Keeping: Keeping meticulous records of supporting documents pertaining to your calculated Reasonable Compensation figure is paramount.

Discover effective strategies to scale your business through proper bookkeeping and tax planning. Learn how to maximize deductions, manage income and expenses, utilize retirement plans, and provide employee benefits. Contact Outsourced CFO Solutions, Inc. for expert guidance.

Everyone would love to find ways to pay less taxes, but just deciding to do so could land you in trouble with the IRS. Because of this, many people look for ways to increase their net worth by maximizing the amount of money they can keep through strategic, and legal, ways to pay less taxes each year. When you can do this year after year, you can compound the amount of money you can keep […] The post What Are the 5 Pillars of Tax Planning? 2023 appeared first on Outsourced CFO Solutions, Inc..

A CFO is the Chief Financial Officer of an institution. The CFO of an organization manages the financial state and actions of the company. This includes tracking key metrics and reporting on cash flow. They also create reports advising the CEO and board on course corrections. A CFO can detect potential financial problems for the company before they arise. Key Metrics and Reporting Depending on your business, the key metrics for forecasting your financial outlook […] The post 2023 What Are CFO Services? Chief Financial Officer Services Explained appeared first on Outsourced CFO Solutions, Inc..

As your company grows, it will find itself stepping into a world of problems and opportunities that operate on a much larger scale and with many more moving parts. A lot of the most difficult questions to tackle are financial: capital strategies, looming bankruptcies, and establishing strategies for effective forecasting of your finances over the coming years. These are duties that typically fall to a chief financial officer. The growth of your operation requires the […] The post Outsourced CFO Services in California 2023 – A Buyer’s Guide appeared first on Outsourced CFO Solutions, Inc..

So you’ve been in business a while and you’ve overcome some of the common frustrations of operations that plague every small business; too much work in the business vs on the business, no more time to get things done, not growing fast enough, not making enough money for the effort put in, uncertainty about accounting, revenue and expenses.   We get it. That’s the reason many clients come to us. They’re looking for solutions to those […] The post Four key areas you must have clearly identified to know your business. appeared first on Outsourced CFO Solutions, Inc..

Too often, too much time is spent in working within the business vs. on the business growth.  There’s confusion between profits and cash flow and it’s most often due to an understanding of revenue, expense drivers and product or service margins.  This is tough stuff to manage appropriately, even for experienced business owners.  There will always come a time when the businesses success grows beyond the capability of the owner or business principal to comprehend […] The post Business Owners Common Frustrations: You’re not alone! appeared first on Outsourced CFO Solutions, Inc..

In recent years, cloud-based technology has transformed our lives and given us an opportunity to effectively manage our business and personal needs.  Whether you’re paying bills online or posting pictures on social media, you are technically in “the cloud”.  What is cloud-based accounting? A cloud-based accounting solution uses a virtual server installed on your devices to manage your company’s financial data.  This remote server is housed off site with the selected hosting company.  Your data […] The post Cloud Based Accounting appeared first on Outsourced CFO Solutions, Inc..