5 min read
Does an S Corp Election Actually Save You Money?
There is no income threshold that makes an S corp election automatically worth it. The election works by moving part of your profit out of...
Tyler Woerner
:
Feb 16, 2022, 11:17:46 AM
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After spending years entrenched in the QuickBooks ecosystem he made the switch to Xero and built a firm around it. In this episode Marcus Mire, CPA takes us through the key reasons he recommends Xero cloud accounting software for his clients and why he’s never looked back.
5 min read
There is no income threshold that makes an S corp election automatically worth it. The election works by moving part of your profit out of...
4 min read
Self-employment tax is the same Social Security and Medicare tax that comes out of a W-2 paycheck. As an employee you pay 7.65% and your employer...
4 min read
Contributing your own money to an LLC is not taxable income to the business and not a deduction for you. Taking profit distributions out later is...