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...
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In this episode, Marcus Mire, CPA discusses how small business owners often overlook the basics of keeping a good set of books for more advanced tax strategies. He makes a strong case for why more often than not you'll save more on taxes when you learn to crawl before you walk.
If you are ready to get organized join the Mire Group!
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...