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An S corporation (or S Corp), for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. [1] In general, S corporations do not pay any income taxes.
Image source: The Motley Fool/Upsplash. As a small business owner with one employee (me), one of the most surprisingly complicated aspects of running a business was: running payroll.
Most S corporation ESOPs offer their employees at least one qualified retirement savings plan like a 401(k) in addition to the ESOP, allowing for greater diversification of assets. Studies in Massachusetts, Ohio, and Washington State show that on average, employees participating in the main form of employee ownership have considerably more in ...
Paychex, Inc. is an American company that provides human resources, payroll, and employee benefits outsourcing services for small- to medium-sized businesses. [1] Founded in 1971 and headquartered in Rochester, New York, the company has more than 100 offices serving approximately 740,000 payroll clients in the U.S. and Europe. [1]
It was one of the 5,000 fastest growing private companies according to Inc. Magazine in 2003, 2004, and from 2007 to 2014. [6] The company was also included in the Deloitte Fast 500 as one of the fastest growing technology companies in 2013, [7] 2014, [8] and 2015. [9] Paylocity held an initial public offering in March 2014, raising about $120 ...
Gusto, Inc. is a company that provides payroll, benefits, and human resource management software for businesses based in the United States.Gusto handles payments to employees and contractors and also handles paperwork necessary to help client companies comply with tax, labor, and immigration laws.
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