Hi guys, Welcome to the Advanced Video Search Engine, and you are watching How the self-employed can save on taxes using an S-Corporation. That video is uploaded by The Tax Geek at 2021-06-25T16:36:21-07:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [AxdwLVc3z6I]
| Name | How the self-employed can save on taxes using an S-Corporation |
| Video Uploader | Video From The Tax Geek |
| Upload Date | This Video Uploaded At 25-06-2021 23:36:21 |
| Video Discription | For most self-employed people, the major tax burden comes from self-employment tax, not income tax. Self employed people can reduce this burden by (1) forming a Limited Liability Company (LLC), electing for the business to be treated as an S-Corporation, and (3) paying themselves a reasonable salary via a W-2. This video shows the extent of savings that can be realized by using this strategy. To explore all the types of business organization, click here: https://youtu.be/UCsCIxyElcE For an overview of self-employment, click here: https://youtu.be/fY1dZGOVIEw To learn more about Self Employment Tax, click here: https://youtu.be/JQwyHiYR9vs To learn all about Qualified Business Income Deduction, click here: https://youtu.be/OW3N4y1vxGY Additional information on LLCs can be found in this video: https://youtu.be/nJT-poAZ2tE ADDITIONAL INFORMATION AND RESOURCES: collective.com: "How to Pay Yourself for an S Corp the Right Way": https://www.collective.com/blog/money-management/freelancers-guide-to-paying-yourself-from-an-s-corporation/ nolo.com: "What is a Limited Liability Company (LLC)?": https://www.nolo.com/legal-encyclopedia/what-is-a-limited-liability-company.html U.S. Small Business Administration: "Choose a Business Structure": https://www.sba.gov/business-guide/launch-your-business/choose-business-structure Entrepreneur.com: "Business Structure Basics": https://www.entrepreneur.com/article/75518 IRS Publication 334: "Tax Guide for Small Business" https://www.irs.gov/pub/irs-pdf/p334.pdf IRS Form 1120S "Tax Return for Small Business Corporations": https://www.irs.gov/pub/irs-pdf/f1120s.pdf IRS Form K-1 (1120S): "Member's Share of Income, Deductions, Credits": https://www.irs.gov/pub/irs-pdf/f1120ssk.pdf The Tax Geek on Twitter: @taxgeekusa Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Audio Library Background and Outro Music: George Street Shuffle, Kevin McLeod, http://incompetech.com via YouTube Audio Library DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional. The tax information in this video is based on tax law and IRS regulations in place when this video was published, and is subject to the whims of Congress. AxdwLVc3z6I |
| Category | Education |
| Tags | Federal Income Taxes | self-employed | self-employment tax | Qualified Business Income Deduction | S Corporation | LLC | Limited Liability Company | payroll taxes |
