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What Is Reasonable Compensation?

For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. Many small businesses have organized as an S Corporation form of entity.  In many cases, the S Corp election allows a...

Understanding Payment Terms

If there is a period of time between when your customers receive your goods or services and when they pay for them, then several things are true: You have a balance in Accounts Receivable on your balance sheet that represents how much customers owe you You have an...

Positive Pay

Positive Pay is a service offered by banks that is designed to reduce fraudulent check-cashing against your account.  If you are writing checks on your bank account (as opposed to using ACH transactions), then the positive pay service, which usually has an extra...