I love the fact that you reference court cases because it gives me a point to better understand and actually review how the IRS view and process the case
Definitely interested in hearing more about IRS court cases! Maybe a series? Find ones that set important precedence for today’s tax implications that are most relevant to budding entrepreneurs
Man thanks bro for this video. Looks like my Tax preparers where pushing me to get an S Corp just to increase my bill. This sucks :/ might get a new tax pro lets see.
Your videos are excellent. I really appreciate the content. You also do a great job visually! Just curious if you are using a program to do these videos or do you hire someone? If you hire someone, I might be interested in hiring them... If you make them - awesome job!
In the $200,000 of S-Corp income with 100,000 being reasonable salary and the other 100,000 being distributions, the savings from the Corp are less than $15,300 because if you had 200,000 of self employment income the social security taxes would max out at $147,000 in 2022. You would still take the Medicare taxes of 2.9% as savings. Great video!
Can you expand on 15:00 "scorps have a slighter edge on raising capital than an LLC"? What do you mean by that? Also, I'd like to start an scorp, but I may want to raise VC money someday so should I start as LLC > scorp or ccorp > scorp? Thanks!
One major advantage of an S corporation is that it provides owners limited liability protection, regardless of its tax status. Limited liability protection means that the owners' personal assets are shielded from the claims of business creditors-whether the claims arise from contracts or litigation.
1. In the state of Colorado you can set up an S-Corp as a legal entity. 2. If the S-Corp is not an entity but just a tax election on a tax form as you just said in the beginning of the video. Then why do you need a board of directors? 3. You need to wear a different shirt. Your white shirt is making you blend in with your background.
I have cleaning business and have $400k plus AGI and $200k plus ANI do i need to switch to sCorp ? Im sole proprietor and also my wife have her own business, we divide income for both of us cuz i have w2. What do you think is the best entity to follow ?
![LLC vs S Corp: Which is BEST for Your Business? [The Great Debate Settled]](http://i.ytimg.com/vi/jUlZNOkpZxA/mqdefault.jpg)
![LLC vs S Corp: Which is BEST for Your Business? [The Great Debate Settled]](/img/tr.png)
![How to File Taxes as an S-Corp Owner [Step-by-Step] | S-Corp Tax Benefits](http://i.ytimg.com/vi/kM9k9ZDHj3o/mqdefault.jpg)
I love the fact that you reference court cases because it gives me a point to better understand and actually review how the IRS view and process the case
I really appreciate your time stamps. I don't skip through listening but it helps for writing down the important parts I want to remember.
This channel is so good, thank you all
I wish your channel was around 30 years ago. The information is presented In a very understandable way..
Court cases= super helpful thank you !
Definitely interested in hearing more about IRS court cases! Maybe a series? Find ones that set important precedence for today’s tax implications that are most relevant to budding entrepreneurs
I'm a fan of the court cases. This video was very informative thank you!!!
I appreciate the court cases you use. Very helpful 👌
Yes please! (On referencing more IRS court cases). I find it fascinating when you inject precedence like that.
The court cases are very helpful
Great content. Thank you.
Very informative, great info. Thank you so much
I def love the court cases, makes it more real-world for me and easier to grasp.
Thank you for the clarification
well done bro !!!!!
Youre honestly the best. Thank you
Man thanks bro for this video. Looks like my Tax preparers where pushing me to get an S Corp just to increase my bill. This sucks :/ might get a new tax pro lets see.
holy cow this is so helpful! thank you
Great video - thanks for the info!
Great information. Thank you
I hit the like button 👍🏼
@Sean I am loving this info.. I want to know more
Your videos are excellent. I really appreciate the content. You also do a great job visually! Just curious if you are using a program to do these videos or do you hire someone? If you hire someone, I might be interested in hiring them... If you make them - awesome job!
Great Info Thanks
In the $200,000 of S-Corp income with 100,000 being reasonable salary and the other 100,000 being distributions, the savings from the Corp are less than $15,300 because if you had 200,000 of self employment income the social security taxes would max out at $147,000 in 2022. You would still take the Medicare taxes of 2.9% as savings.
Great video!
Court cases are very helpful.
Can you expand on 15:00 "scorps have a slighter edge on raising capital than an LLC"? What do you mean by that? Also, I'd like to start an scorp, but I may want to raise VC money someday so should I start as LLC > scorp or ccorp > scorp?
Thanks!
I LOVE COURT CASE REFERENCE!!!!
You probably would love this video then : ua-cam.com/video/jLtBr-aKQ-w/v-deo.html
Bruh, this whole video was so dang helpful. Now I know going s-corp is premature for us
One major advantage of an S corporation is that it provides owners limited liability protection, regardless of its tax status. Limited liability protection means that the owners' personal assets are shielded from the claims of business creditors-whether the claims arise from contracts or litigation.
Please keep reviewing court cases
What if its a side hustle and you aren't profiting yet? What if there isn't an income yet to pay yourself with?
1. In the state of Colorado you can set up an S-Corp as a legal entity.
2. If the S-Corp is not an entity but just a tax election on a tax form as you just said in the beginning of the video. Then why do you need a board of directors?
3. You need to wear a different shirt. Your white shirt is making you blend in with your background.
I have cleaning business and have $400k plus AGI and $200k plus ANI do i need to switch to sCorp ? Im sole proprietor and also my wife have her own business, we divide income for both of us cuz i have w2. What do you think is the best entity to follow ?
Do you have a course that walk through step by step filing business tax return ?
I know my comment is 2 years to late but yes PLEASE reference tax court cases
Yes to court cases
If the business is new and the company is only making $10,000 profit for the year, with 2 owner operators, what is considered a reasonable salary?
Where are you basing your pricing on for your tax services??
Doesn't an S-Corp provide Limited Liability Protection anyway?
in an s corp , can you just pay yourself salary and not give out distributions?
Of course you could have a C corp and elect not to take distributions and instead collateralize your stake and get loans which are not Taxed.