The IRS Doesn’t Care What Your Friend Pays Himself

The IRS Doesn’t Care What Your Friend Pays Himself

Congratulations. You elected S-Corp status. Now what do you pay yourself? $20,000? $50,000? $100,000? How do you know what's right? Maybe your friend told you what he pays himself. Maybe you saw a video online. Maybe your CPA gave you a number. But is that number actually right for YOUR business? In this episode of TQ Talks, we're discussing one of the most misunderstood topics for S-Corp owners: reasonable compensation. We'll cover: ✔ What reasonable compensation actually means ✔ Why there isn't a one-size-fits-all answer ✔ What first-year business owners should be thinking about ✔ How salary decisions change as your business grows ✔ Common mistakes business owners make when setting their pay Because the IRS doesn't care what your friend pays himself. They care whether your salary makes sense for the work you're performing. 🎙️ Listen now. For more information go to: https://tqfinancials.com/

Why Some Business Owners SHOULD NOT Elect S-Corp Status

A lot of entrepreneurs hear: “You need an S-Corp.” But very few people explain:     •    WHEN it actually makessense     •    WHAT changes once youelect it     •    and WHETHER your businessis even ready for it In this episode, we discuss: ✔ profitabilityconsiderations ✔ payrollresponsibilities ✔ reasonable salaryconversations ✔ bookkeeping andcompliance ✔ and the biggestmisconceptions business owners have about S-Corps An S-Corp is not a magic solution. It’s a strategy — and timing matters. For more information go to: https://tqfinancials.com/

How Smart Business Owners Review Their Tax Returns

Most business owners look at two numbers on their tax return:   ✔ Refund ✔ Balance due   …and ignore everything else.   But your tax return tells a much bigger story.   It can show:  whether your business is growing whether your structure still makes sense where taxes may be increasing whether planning opportunities are being missed and what conversations you should be having BEFORE next year  In this episode of TQ Talks, we break down how business owners shouldactually review their tax returns — from Schedule C businesses to S-Corps — andthe key areas entrepreneurs should be paying attention to after filing season.  Becauseyour return shouldn’t just close the year. It should help you prepare for thenext one. For more information go to www.TQFinancials.com

Built for More: Lessons from a Two-Time Olympian in Business and Life

In this episode of TQ Talks, we sit down with two-time Olympian Jayson Jones to talk about what it really means to be built for more. From his journey into track and field to competing on the Olympic stage, Jayson shares the discipline, structure, and consistency required to perform at the highest level. We also explore how those same principles translate into business and everyday life, and what it takes to stay focused, intentional, and driven over time. For more information go to: www.TQFinancials.com

From Filing to Planning: How to Take Control of Your Taxes

Filing a tax return is often where the conversation ends — but it’s where effective tax planning actually begins. In this final episode of TQ Talks, we connect the ideas from across the season and explain how business owners can move from reactive filing to intentional tax planning. We discuss how understanding past results, planning ahead, and coordinating decisions throughout the year can lead to fewer surprises and more control over taxes. This episode brings the full tax planning process together and shows what it looks like when taxes are approached proactively instead of at the last minute. For more information go to: www.TQFinancials.com