Providing Professional Accounting & Tax Preparation Services
Helping keep your business in order!
Providing Professional Accounting & Tax Preparation Services
Helping keep your business in order!
Helping keep your business in order!
Helping keep your business in order!
Give us a call to schedule your appointment!
PLEASE SEND ALL MAIL TO:
SEMBCO, INC.
2011 ELK RD, SW UNIT 2
SUPPLY, NC 28462
We're taking a much needed break and closing the office June 19th through July 6th! Payroll will continue and we will be checking email and voice mail for any urgent matters that arise. We'll be back in the office July 7th . The office phone is not equipped for texting.
Forms 1040, 1041, and 1120.
Please check your state or contact our office for assistance.
The Federal Emergency Management Agency issued a disaster declaration for Alabama, Florida, GA NC, SC and parts of TN and VA. This means the IRS has automatically granted disaster relief to businesses and individuals in these areas. You can check the IRS website or contact us for information on how this might benefit you.
You must determine a reasonable salary when a shareholder-employee of an S corporation provides services to the corporation.
Payments to a shareholder-employee for services provided to an S corporation are wages and are subject to employment taxes.
The IRS may re-characterize distributions paid to a shareholder as salary if the distribution was paid in lieu of reasonable compensation. (Revenue Ruling 74-44).
We will be happy to assist you in establishing a reasonable salary and in compliance with the reasonable compensation requirement.
All shareholders need to track their stock and debt basis in the corporation. A shareholder is responsible for calculating their stock and debt basis in the corporation. It is important for shareholders to know their stock and debt basis when the S corporation:
- In order for a shareholder to claim this loss or deduction, they need to demonstrate that
they have adequate stock and/or debt basis.
- In order for a shareholder to determine if the distribution is non-taxable, they need to
demonstrate that they have adequate stock basis.
- In order for a shareholder to determine if there is a gain on loan repayments,
the shareholder must know their debt basis.
OR
- A shareholder must know their stock basis in order to determine the gain or loss
upon disposition of their stock.
We can assist you in determining and tracking your stock and debt basis.
If you have a corporation, you need payroll services. These services can be provided by a 3rd party, such as SEMBCO, Inc., or you can use any of the various apps or software options available. We will gladly help you choose the best option for you and your corporation.
Approved IRS E-File Provider
Annual Filing Season Program Participant
Specializing in the needs of self-employed or small business clients.
QuickBooks Proadvisor
Certified in QuickBooks Online and
Desktop
Do you need assistance getting control of your bookkeeping? Do you need assistance or training working with QuickBooks? We can help you with that! Gives us a call today to schedule an appointment!
Main Phone: 910-230-5696 Ext. 1001
Fax: 910-502-6994
We can replace your back office with accounting, payroll, and bookkeeping support. We also provide training and support to your back office staff. We customize our service to your needs.
We’re dedicated to our clients. We are an approved IRS e-file provider and Annual Filing Season Program Participant. We keep current on tax law with continuing education through IRS approved providers. Strategic planning is important to minimize your tax liability.
We develop strategies for both business and individual clients. We are a small family business, established in 2007. We strive to identify and fill the specific needs of each client. We serve clients across the US as well as abroad. Our job is to take care of the paperwork so you can focus on generating revenue! We are here to guide you throughout the year.
Would you like to have QuickBooks Desktop functionality but the convenience of cloudbased software? Would you like to have QuickBooks accessible from your smartphone? Contact us to discuss the options.
We offer payroll services including direct deposit. We can also provide direct deposit options for your subcontractors.
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PHYSICAL ADDRESS: 2011 Elk Rd. SW Ste 2, North Carolina 28462, United States
Main Phone: (910) 230-5696 Ext. 1001
Monday - Friday: 10am - 6pm
Evenings: By appointment
Saturday: By appointment
Sunday: By appointment