Setting S Corporation Salaries S corporations can save their owners enormous amounts of tax. How? By correctly setting salaries for shareholder-employees and thereby reducing payroll taxes.
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Note:Yellow highlighted items in my cheat sheet represent the Normal Type Of Balance For an Account - Debit or Credit The purpose of my cheat sheet is to serve as an aid for those needing help in determining how to record the debits and credits for a transaction. Debit/Credit Cheat Sheet
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