Top S-Corporation Tax Write-Offs in 2021

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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#taxes #taxfreeliving #taxexpert #taxreduction #llc

#taxes #taxfreeliving #taxexpert #taxreduction

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Here are some of the best tax write-offs for S-Corporations.

Many S-Corporation owners are aware of payroll, and the usual yearly vehicle deduction, but in this video I go in depth on some of other advantages at that are at your disposal by becoming an S-Corp.

We discuss the importance of transitioning from the LLC to the S-Corp as well as the BEST strategies to consider as a new S-Corp owner.

New business owners need to understand how the S-Corp can be leveraged before becoming an S-Corp.

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*Disclaimer: I am not a financial advisor nor am I an attorney. I am a licensed Enrolled Agent. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

___________________________________________________________________________

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

[choosingjoy]

I've just spent the last hour watching boring, worthless, or poorly executed videos....till I found YOURS. Wow! You explained it 10 times better, were 10 times more interesting, and gave very practical advice in easy to understand terms. Well done!!!! I'll be returning for more videos.

[MauriceStephens]

This was extremely informative and easily digestible for me. Thank you very much!

[TonyJacobsenUNBREAKABLE]

Great information, Karlton! Thanks for this. I’m in my 2nd year with an S. Corp and looking forward to refining my tax strategy.

[lt]

VERY eloquent and great speaker you are Mr. Dennis... You made this learning video about LLC and S corp fun, interesting and easy to understand, where the other You tube videos made it so boring and difficult to decipher..
Congratulations to you and please never stop making these tax videos. You are so awesome!!!

[CAPUTO]

very well done mr. dennis, plain straightforward explanations that everyone can understand, not easy to do when it comes to taxes and corp structures!

[SeanKennardRN]

I'm so glad you exist!! I was literally just about to YouTube searche this, but this video showed in my feed right on time. Great information! Thank you!

[israelgomez]

These videos are very helpful and the way you use the graphics and break down the meaning of the tax codes help me understand it very well. It shows you really understand and know what you are talking about.

[alicialyn]

Wow 🤩 you killed it!!! So grateful 😇 for you thank you 🙏 for sharing your knowledge so we can create Financial literacy!! Congratulations 🎉🍾

[dkhunt]

I luv what you do for us in the small business world. I also luv your presentation, very professional in my opinion.

[jennlowetherapy]

Top 5 strategies:
❤QBI deduction: 20%
❤ Bonus depreciation (100% of an item)
❤ Cash balance plan: retirement planning maximizing
❤Augusta Rule: Host a meeting in our house. Charge the company rent. Reasonable rent fees.
❤ Management Company

[jeremyphat]

Great video, commenting for the algorithm - more people should see this. Thank you!

[adriennelloyd]

This is my second video. Great information. Presentation is excellent!

[bosabusinesses]

I can't afford your service but it seems I can't afford "not" to have your services... a Very well-put-together video my friend. God bless.

[JakeB]

I was under the impression that LLC was just a legal status and that it could file as a partnership or S Corp (or Sch C/E/F on 1040) for tax purposes -- I think the "LLC" discussed in this video is really thinking about partnerships or Sch Cs (or similar) that have self-employment tax rather than LLCs which can file as an S Corp for tax purposes and have no SE tax. Let me know if I'm off on something here!

[imdoc]

Amazing video. I just created my s-corp and lcc. This video taught me so much. Thank you!

[jackiemederos]

thank you so much, you are a very smart guy, I am going to have the video a couple of times to really digest everything you said. I started my own practice 2 years ago and my accountant told me that Scorp is too much work and I should just stay as a solo owner. my practice has grown more than what I had initially expected and I am not good with numbers so I do feel a bit confuse on what I should do. I now have to pay a really good chuck of change to the IRS and to the state. I just know there has to be another way to manage my business. Thank you for the video.

[michaelsmith]

QUESTION: How can I structure a startup cost like flight training ($50k), to start a flight instructor business; so that there is a write-off or way to recover that upfront training cost?

[aligainz]

Great content your videos are very educational and easy to follow. You deserve more subcribers. You should go live and do Q and A's to help your channel grow while you educate. Knowledge is power. Thanks for your videos.

[poseymanposeyman]

What would be better for a truck diver starting his own company? LLC, S- CORP, OR C- CORP?

[sindhukrishnamurthybk]

Well explained, Thank you. Keep doing. All the best. And also please show me how to file the return as well.