How S-Corps can save you thousands of $$$

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Here’s how S-Corp saves me money on Taxes.

My subsidiary LLC makes money by selling a product, but it passes money to my holding company.

This holding company collects all my money.

This way, I can take advantage of the S-Corp pass-through tax benefits by paying myself a distribution and a salary.

However, setting up an S-corp can feel like a complicated process.

you've got to create a payroll account, put yourself on payroll, put money in the payroll account and file an additional tax return.

It isn't worth your time and energy when you are starting out.

So please hold off on the S Corp until your yearly profits are at least $50k-100k per year

Ideally, more than $100k a year because that's when it will save you money.