Navigate the complexities with a free tax consultation: Call (801)790-0473 or schedule a call here:
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For Businesses that are profitable, and the goal is to take the profit out of the company in a tax efficient manner, S-corp is a great tax designation to elect for your business., potentially saving thousands depending on the level of profitability of your business.
Recommended formation service - We have negotiated with Northwest to provide the best discount and packages for our users, we get compensated when users use our discount links.
💼 For LLC 75% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - go.truic.com/4ajbLJa
Fees are as follows $29 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)
🏆 For S-Corp 60% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link -go.truic.com/3HcUgxU
Fees are as follows $89 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)
🧮 To see how much you can save by forming an S corp check out our Scorp calculator:
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Understand the complexities of S Corporations in this detailed guide by TRUiC, designed to provide entrepreneurs with a clear understanding of what an S Corp is and its advantages. Learn how electing this tax status can impact your business, from potential tax savings to operational requirements.
TIMESTAMPS
0:24 1 What is an S Corp?
1:08 2 Advantages of an S Corp
2:47 3 When to Elect S Corp Status
5:03 4 Electing S Corp Status
6:31 5 What is a Reasonable Salary
8:14 6 When Not to Elect S Corp Status
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DISCOUNT LINKS, FREE TOOLS & RESOURCES
Below we have some paid links from our partners. If you decide to use their services through our exclusive negotiated deals, we get paid a small percentage. Thank you for your support in our efforts to make business information free for all!
We Recommend using Northwest to form your LLC which includes 1 year Free Registered Agent Service.
💼 Northwest 75% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - go.truic.com/4ajbLJa (paid)
($29 + state fee)
💰Create an S Corp with Northwest:
go.truic.com/3HcUgxU (paid)
🕵️ If you need a registered agent service, use this discount link:
go.truic.com/4aeXtsU (paid)
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Need to Talk to a Tax Specialist for your S Corp Questions?
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🎥 S Corp vs LLC
• S Corp vs LLC (Should...
📝 What is an S Corp written guide:
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#scorp #distributions #taxes #SCorpExplained #BusinessTax #Entrepreneurship #SmallBusiness #taxstrategies
11 янв 2024
