How does 1099 Income flow into my S-Corp

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Опубликовано:

29 авг 2024

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Комментарии : 35

@Travisimoo 3 года назад

I'm a contractor, my wife is a newborn care specialist and in school for LMFT. Coincidentally I started working with KKOS a few weeks ago to set us up :)

@MarkJKohler 3 года назад

That's perfect! I'm glad to hear that you are getting help over at my firm.

@sovereignruler 3 года назад

Thanks for sharing Mark. You rock partner.

@MarkJKohler 3 года назад

You're welcome! You rock!

@sovereignruler 3 года назад

@@MarkJKohler Let's just say that I'm as passionate about accounting as you are. Nuff said!

@kyleruggio 3 года назад

When you pay out the wages from the S Corp in w-2 you pay the 15.3% in self-employment taxes anyways (ee/er fica).

@jesham7627 3 года назад

Hi. Do the 1099 payments received for services rendered go directly to the S-Corp in the business's name or to the individual in their name?

@The-realnews 2 года назад

I don't think it makes a difference as long as you reported on your taxes filing

@ihtfp004 6 месяцев назад

Can someone please confirm? I’m not understanding how 1099 income with a person’s name be deposited into an s-corp and be seen as a-corp income.

@OliviaandAngel 3 года назад

Hi Mark , I have an LLC of my own and my brother (51% ) and myself (49%) own a licensed s Corp in construction. What I’m understanding from this video is that I shouldn’t be part owner of Im not licensed but only my brother is . I’m working with KKOS but I’m worried I may have the wrong structure . Thank you for the help !

@MarkJKohler 3 года назад

You are very welcome! Be sure to ask the attorney you are working with about your structure, and I know they will suggest what's best for you. My law firm and I are here to help you to get the right structure to save you on taxes. We are here for you, the business owners.

@thealgorist4160 3 года назад

Not all contractors recieve 1099s. I am a software developer and my career has been spent contracting under w2 contracts.

@Leondon73 3 года назад

Should I turn my current LLC into an scorp or should I open an scorp and run my other llc through it? Thanks and Happy New Year!

@MarkJKohler 3 года назад

I love the question, I wish it was simple enough to answer through a RU-vid comment! Honestly, it will save you way more money than it will cost, get in contact with my firm and set up a consult, it will seriously help SO much. Email my personal assistant whitney@kkoslawyers.com and she will be able to connect you with someone!

@RushOrbit Год назад

Does this vary per state? I'm a software developer in NJ and will be contracting for a company that'll put me as a 1099. I'm new to this so I wasn't sure if it was something I could run through an s corp.

@agentomega5949 3 года назад

When are you doing acorns video too???

@corneliachirila1804 2 года назад

When you pay yourself from the business in your personal checking, how much tax do you pay?

@cassiemoore580 2 года назад

Can you pay yourself from your S-Corp with a 1099 Misc instead of W2?

@agentomega5949 3 года назад

When are you doing sweet spot S Corp in NY??

@isaiasbardales2062 3 года назад

I just got a 2 million dollar business loan. Can use that money to invest in current businesses and start my own business?

@MarkJKohler 3 года назад

I would recommend getting a consult immediately, email my assistant whitney@kkoslawyers.com and she can help you get scheduled.

@patrick553 3 года назад

What kind of question is that?? "I got a business loan. Do I use it for my business" lol

@germaninvasion121 Год назад

Can I have 100 k ? Dawg

@killercarrie 3 года назад

Wait, I file schedule C I need more info (NJ)

@MarkJKohler 3 года назад

Here's a blog article I wrote that you might find helpful: markjkohler.com/choice-of-entity-5-factors-to-determine-if-an-s-corp-is-right-for-you/. If you still have questions, reach out to my Marketing Director at jack@markjkohler.com. Depending on what you are needing, he can point you in the right direction to get you the help you need.

@vardankirakosyan4947 3 года назад

Hi Mark, I am a programmer and mostly work through temporary employment agencies. The pay me on W2, but I bare many expenses, such as health insurance, office furniture (especially now, working from home) and, in many cases computer and other related expenses. I have a website to advertise my services, but even then all the clients ask to work and/or be paid through agencies (on W2). I know that since I'm working on W2, I can't deduct any work related expenses (especially with new changes in tax law). What would be a workaround to be able to deduct the expenses? Thank you beforehand for your time and efforts to answer my question.

@patrick553 3 года назад

Start an llc

@vardankirakosyan4947 3 года назад

@@patrick553 Thank you Patrick. And how will that help?

@patrick553 3 года назад

@@vardankirakosyan4947 Schedule C

@vardankirakosyan4947 3 года назад

@@patrick553 I am paid on W2, as an employee of the agency. To use Schedule C I should be paid (at least) on 1099.

@patrick553 3 года назад

@@vardankirakosyan4947 You start your own business bro. Then take the expenses on schedule C. It's easy. Just act like your business is trying to turn a profit.