So you're an S-Corp, but... you have no idea how to setup payroll to pay yourself as an S-Corp? IF that's you, watch this video..
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We advise a lot of our tax planning clients to set up S-Corporations for one simple reason: to avoid the 15.3% self-employment tax.
If you earn ordinary income from your business, and you are not an S-Corp or C Corp, then you may be subject to thousands of dollars in self-employment taxes that could have been reinvested back into your business.
But unfortunately, a lot of S Corp owners fail to pay themselves a reasonable salary - partly because they do not understand how to do this.
So in this video, I walk through how to setup payroll and pay yourself correctly.
Payroll Discounts:
If you still need a payroll provider, use the links below for a big discount:
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Timestamps:
Purpose of S Corps (0:00)
Step 1: Choose Payroll Provider (2:15)
Step 2: Setup State Accounts (3:49)
Step 3: Add Account Numbers to Payroll Settings (5:30)
Step 4: Add Yourself as an Employee (6:55)
Step 5: Determine a Reasonable Compensation (7:44)
Step 6: How to Paying Yourself as an S Corp (10:09)
Step 7: Make sure automated taxes and forms are on (10:57)
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