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| Name | S Corp Reasonable Salary - An In-Depth Guide |
| Video Uploader | Video From How to Start an LLC |
| Upload Date | This Video Uploaded At 30-06-2023 18:02:32 |
| Video Discription | Schedule a FREE CALL with a Tax Professional : https://go.truic.com/3WAgdzi (See how much you could save on your taxes) 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 Formation: 75% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link -https://go.truic.com/46UbZ7Z 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 Formation: 60% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - https://go.truic.com/3ZSZZl2 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: https://howtostartanllc.com/form-an-llc/llc-vs-s-corp-whats-the-difference ------- All S corp owners must pay themselves a 'reasonable salary' in order to compensate themselves, but what does the IRS consider reasonable compensation? This video guide will explain how to determine your S corp reasonable compensation and how to pay yourself as an S corp. *TIMESTAMPS* 0:00 Intro 0:53 1. What is an S Corp? 1:20 2. How Owners Get Paid 2:23 3. What is a Reasonable Salary? 3:21 4. Exceptions 4:09 5. How to Calculate Your Salary 5:09 6. Resources 6:13 7. The 60/40 Rules 6:51 8. Salary Taxes 8:31 9. Example Salaries 8:31 10. Is an S Corp Right for Me? ------- 📙 For a detailed step by step guide on starting an S-Corp as an LLC, go here: https://howtostartanllc.com/start-an-s-corp #scorp #reasonablesalary #business #entrepreneur #businessstructure #taxdesignation heZCb6yhZA8 |
| Category | Education |
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