63. The One For Those Making Over $50K in Profit From a Sole Proprietorship or Partnership: The S Corp Strategy
Episode Highlights
0:00 - S Corp Tax Savings Strategy Guide
2:44 - Tax Saving Strategy for Small Businesses
Episode Summary
The S corp tax strategy. Have you heard of it?
This episode is a must-listen for those entrepreneurs whose businesses have crossed the threshold of $50,000 in profits after expenses. Get ready to equip yourself with the knowledge needed to determine if your business is a prime candidate for S corp status and understand the critical timeline for filing the forms that lead to significant tax savings.
We explain the additional responsibilities that come with an S-Corp structure, including owner payroll and separate business tax filings. With the March 15th deadline to file Form 2553 looming, we discuss the role of a seasoned CPA who can steer you through the transition seamlessly.
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