3 S Corporation Tax Strategies Explained

If you’re like me, then you’re interested in how you can keep more of the money you make.

So get ready - here are 3 straightforward S Corporation tax strategies explained that you need to take advantage of ASAP!

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*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your own attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

00:00 Introduction
00:18 What is S-Corp
01:33 What is the purpose of your S-Corp Entity?
04:13 Dividend distributions
05:44 Accountable Plan Tax-FREE Reimbursement
10:40 Kids on payroll = $12,950 deduction
13:56 Fringe benefits for S-Corp Owners...
16:02 Section 127 tuition reimbursement under CARES ACT
19:25 Tax Planning vs. Tax Preparation

[borismusheyevcpa]

Hey Everyone, Boris here. Make sure you check out these links.

[dorenestewart]

I just sold a property in Portland and I'm thinking of putting the cash in stocks, I know everyone is saying it's ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[rja]

while waiting for the result of the election from irs, can i treat our payroll and taxes as SCORP?

[samuelrios]

Is buying a home with an S-corp possible?
I have a HVAC contractors license in California and I’m looking into buying a home that will be also where I do lots of paperwork .

[RayaFlora]

Love the quality of your videos and the value you're providing! Thank you very much for your hard work.

[denisedade]

Thank you so much, I have never understood this as much as I have the way you've explained it 💯.

[bigdeez]

As a CPA who does both tax and audit… I find your videos extremely helpful. Thanks, Boris!

[MarieHolland-gp]

the section 127 the child has to be an employee off the company before you can take the education

[dastirogue]

Even with my knowledge I know I need help with my business structure

[ChristopherValdez-kz]

My cpa filed my tax as partnership I have to amend my taxes give me shout I have a lot to cover sorry..

[MoneyandLifeTV]

Great vid I’m a cpa in Modesto California and always trying to expand my knowledge and this was great. Love your energy I think you could be in the wwe

[WMitchellM]

Not more than 5 percent of the amounts paid or incurred by the employer for educational assistance during the year may be provided for the class of individuals who are shareholders or owners (or their spouses or dependents), each of whom (on any day of the year) owns more than 5 percent of the stock or of the capital or profits interest in the employer.

[renuc]

Thanks for the awesome video, very helpful for me. I opened by company in 2022 Feb and I am the only employee of my scorp and work from home.My CPA like you explained says cannot deduct anything. He said no to even paying kids. Is it too late to pay kids for 2022 and all these accountable plan you mentioned. I heard you can deduct for first year company opening expenses too but he says no to it too. Where is that Costco video you mentioned?

[wessamhamdan]

What if you have a 50/50 partnership in an S corp. I work less than my partner so our pay is different. Is this allowed. I guess my question is do we both have to make the same money on the payroll ?

[debbiebell]

wow! Just found you, just started a business, will definitely be following you.

[ArmandoMartinez-nfir]

Great video Boris! Thank you so much! 👍 Question: if I'm a 2% S-Corp owner, I know I can't get the fringe benefit of my company paying for my health insurance, but can they reimburse me for my health insurance premiums? And if not, can I deduct this on my personal tax return?

[SeanSherrell]

I just found your channel! this is some good stuff!

[cristinamaldonado]

If it’s free y not just say what it is smh just dragging it 😡

[trainingwithkap]

Tax
Planning…."reach out to me.”

[mariabell]

What a brilliant video. Great advice, simple and practical.