• All About the S-Corp Election - Episode 2

  • Feb 27 2024
  • Duración: 24 m
  • Podcast

All About the S-Corp Election - Episode 2  Por  arte de portada

All About the S-Corp Election - Episode 2

  • Resumen

  • In this episode, we will take a closer look at the particularities of what it means for an LLC to take an S-Corp election.

    Highlights

    • Why an LLC with S-Corp election is advantageous for solopreneurs or small business owners
    • In-depth breakdown of the four things to consider for any corporate structure
    • How the S-Corp election affects member classes and its potential implications to business growth plans
    • How taxation rules change with S-Corp election
    • The two tax deadlines for LLC with S-Corp election
    • Different steps to execute an S-Corp election
    • IRS requirement for business owners to pay themselves a 'reasonable salary' with an S-Corp election
    • Personal experience about the positive impact of the 'reasonable salary' requirement on self-valuation


    Episode Resources

    • Book Recommendation: Overcoming Underearning - https://www.amazon.com/Overcoming-Underearning-TM-Simple-Richer-ebook/dp/B000W93AH4
    • IRS Form 2553 - https://www.irs.gov/pub/irs-pdf/f2553.pdf
    • Connect with Krystal Williams
    • https://providentiagroup.com
    • https://www.linkedin.com/in/krystaldwilliams
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