So You’re an S-Corp...Now What? [Essential Tax Tutorial]

Learn the rich's tax secrets with my new book! Click the link below
Taking the Next Step:

My Tax Strategy Programs:

Check out these links Below!

*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

[richhands]

My three favorite channels: Karlton Dennis, Stock Brotha, & Richard Fain. Make my week complete!

[sindysacoman]

Most helpful tax video I have seen. I love learning about what is needed for an s-corp because all this is new and not many CPAs walk you through this. Much appreciated.

[Ghostly_Kaleb]

I am 16 years old and I love learning about this stuff my financial life is going to be on point.keep giving us your knowledge about tax’s and your business knowledge ❤😊

[matthewaustin]

Would love to see a video about the accountability plan in an S corp. The purpose, how to set one up, how to move the money around, pros vs cons, etc.

[apgaengwa]

One of the best videos I've watched in a while. Length is perfect, info is concise but clear. This guy knows his stuff.

[TheMondaysGhost]

holy moley im so glad i found your videos, they are a treasure trove of everything I've ever wanted to know with tax stuff..

[AnnaNovelo]

thank you for this video. Most clear and none ambiguous tax video I've ever watched.

[krasmussen]

Refer to mark 19:42.
Sorry. Form 940 is NOT the annual equivalent of Form 941. Form 944 is.
Form 940 is for filing Federal Unemployment. Which is neither FICA, Medicare or Federal Withholding. And, that form is tied to your state unemployment filing.
How do I know? I am filing them right now for several companies in my tax firm.

[cindypiotrowski]

You’ve explained this better than anyone I’ve heard. THANK YOU!!!

[VivereDripTherapy]

You did a phenomenal job explaining this. Thanks

[edmak]

Could you do a video about establishing a holding company

[bradadamczak]

Exactly the video I was looking for. How To Pay Yourself as S Corp more clear than ever before. Thank you

[kasiwilliams]

Thanks for combining all this vital information so we can be knowledgeable to educate ourselves on the rules.

[ThriftDiving]

QUESTION: ❓ My tax guy said I should be using a Payroll company to pay myself a salary as an employee of my business. But I hate that I have to pay $75 a month to get access to my own money. So you're saying that I can just make transfers from business to personal as distributions? Or should I keep payroll and just make transfers when needed as note them as distributions?

[MarPF]

Just a small mention; You can deduct the business part (half) of the self-employment tax as an expense. Also remember pay and file State and Federal Unemployment Taxes (SUTA / FUTA), and last but not least if applicable remember to take the QBI deduction which can save you a substantial amount in taxes.

[TheTiffanyRose]

Excellent video! Thanks for sharing your knowledge

[RobertPearce-sj]

You do a wonderful job always in the correct order

[MonicaLWilliams]

Thank you so much! This information is so vital to business owners and tax professionals!

[jew]

This is exactly what I was looking for

[CryptoData]

Awesome video Karlton! I really appreciate you dropping this knowledge. I just filed for my LLC so this helped a ton 🤝