S corporation Owner Compensation Tax Strategy

Рет қаралды 18,963

Күн бұрын

What’s up guys! It’s Boris Musheyev here - your favorite tax guy.
In this video, I'm going to teach you the PROPER way to pay S Corporation Owner Compensation.
You're going to learn:
🚀 Who is eligible for S Corporation owner compensation
🚀 How you can structure your compensation to maximize your tax savings
I provide tax tips and resources to help you keep the most of your money from your S corporation. So go ahead and browse the tax strategy videos I already have up and, after you subscribe, hit that bell icon so you don’t miss any future money-making tax strategies.🔔
☎️ Schedule your FREE Tax Strategy Call - www.TaxPlanningCall.com/
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*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your own attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

Пікірлер: 52

@borismusheyevcpa Жыл бұрын

Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know bit.ly/3DPw5UZ Schedule your FREE Tax Advisory Session: www.TaxPlanningCall.com

@marilynnu5567 Ай бұрын

Boris, I appreciate your videos so much! I’m an accountant and an EA. Listening to you inspired me to want to learn more about tax strategies. I just became a member of the AICTP in pursuit of my CTC designation. I opened my firm a few months ago and I’m excited to be able to offer proactive tax planning to my clients. Thank you!

@BinLiutrianglehomes Жыл бұрын

I love it. keep it coming

@laparo3 6 ай бұрын

Very valuable! Thank you!!

@manassasman2002 3 жыл бұрын

This was a very informative video. Thanks for sharing

@nguye1971 Ай бұрын

Great content. Thanks.

@CryptoQueen8888 5 ай бұрын

You are such a genius and you apply your wisdom.

@lifesjourney7219 Жыл бұрын

Thank very much

@samphares8057 Жыл бұрын

Great content, this was awesome!

@borismusheyevcpa Жыл бұрын

Thanks Sam!

@josephinebardot8403 3 ай бұрын

It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.

@borismusheyevcpa 3 ай бұрын

Glad it was helpful!

@ellaterrell8091 Жыл бұрын

You're amazing, I'm learning more about savings in a corporation that I didn't know was available. I just started a homecare business and was browsing the internet to learn how to reduce my taxes and how the S-corporation works. I don't have clients yet to produce income but I want to get educated. Thank you for your videos

@borismusheyevcpa Жыл бұрын

Hey Ella! Thank you for your comment! If there are any topics you'd like me to cover let me know!

@girlwonder6 Жыл бұрын

I loved the video!! Keep. it up ....

@borismusheyevcpa Жыл бұрын

Thank u

@changingfashionsinc Жыл бұрын

Thank you

@borismusheyevcpa Жыл бұрын

You're welcome

@professor-dad 10 ай бұрын

I am very much looking forward to implementing an actual "tax strategy" next year. And I'm going to do my best to get this year sorted. But unfortunately I didn't get the S-corp election submitted in time for this year. I don't suppose there's an IRS form for late S-corp declaration? 😁

@timmcclive Жыл бұрын

Regarding health insurance and such if I do not own the S Corp myself? My S Corp is owned by a WY Holding Company.

@PamelaWilsonLipscomb Жыл бұрын

Thanks for this video. It has been very helpful. I have a C Corp and am pretty lost.

@borismusheyevcpa Жыл бұрын

Happy to help Pamela! Do you have any topics you'd like to see covered? We can add them to our content calendar for you!

@PamelaWilsonLipscomb Жыл бұрын

There’s so much I don’t know. My company is an S Corp. I am paying so much money in taxes.

@EEZYEEEE 2 ай бұрын

Do we just write a check for all of the reimbursements at the end of the year or what is the best way to go about paying ourselves back the reimbursements?

@ElizabethMartinez-pf9wc 17 сағат бұрын

What if an owner can't take a reasonable salary for their industry because they're trying to pay off business debt in order to start cash flowing better?

@annguyen231 3 жыл бұрын

Hello, would you have a template to set up the owner Comp package that can be file with the IRS as part of your owner comp / plan? Thanks,

@borismusheyevcpa 3 жыл бұрын

Hi An, if you would like more info on that please schedule a call with us at www.taxplanningcall.com

@manuvns 11 ай бұрын

Is 50% of the profits reasonable compensation? And how do I take deductions for travel to clients location like flights, cars and short term stay

@mariselaporras712 Жыл бұрын

Hi Boris!Thank you so much for all your videos! If I want to include my health insurance in my W2 then is the health insurance on my name or on the company’s name? I have an S corp with just one member. Thank you so much☺️

@borismusheyevcpa Жыл бұрын

Great news! It doesn’t matter under who’s name is health insurance, business or personal

@serenaverolla8910 Жыл бұрын

Hi Boris! Love your informative videos!! When you refer to S-Corp is this the same as an LLC taxed as an S-Corp? I just filed Form 2553.

@headlibrarian1996 11 ай бұрын

They are the same thing for tax purposes.

@bamboostedgarage9955 Жыл бұрын

What about if it’s partnered s-corp for construction can we deduct two home office and a storage garage for our equipment

@borismusheyevcpa Жыл бұрын

Yes u can!

@garydownes1594 Жыл бұрын

Yes very informative. Can you narrow down advice on types of businesses. Such as semi truck owners etc. What deductions certain businesses can take in S Corp? Also when one says S Corp., Is that actually an S LLC? Thank you.

@headlibrarian1996 11 ай бұрын

When you hear "s-corporation" think "entity electing to be taxed as an s-corporation". Could be an LLC, a partnership or a C-corporation.

@CryptoQueen8888 5 ай бұрын

So distributions are not taxed??

@Kdankwah Жыл бұрын

Hi Boris I have a business that I think I can make about 150k this year. I just got my S Corp approved. I have paid any estimated Taxes yet. How do I estimate my taxes using 1040 ES? Do you have a spreadsheet I can use for the calculations?

@officewife 3 жыл бұрын

Do you have this info in writing? Hard to do videos/zoom for me with limited bandwidth on my Internet. Thank you.

@borismusheyevcpa 3 жыл бұрын

yes, we will be posting the transcript shortly. thanks

@isaacniasoff9294 Жыл бұрын

100% of home expenses are deductible?

@remitribelevelup Жыл бұрын

What should one do if they have an Scorp but the work is commission? It makes money, but there are fears of taking out too much pay in case dry seasons hit. They've hit before.

@borismusheyevcpa Жыл бұрын

As long as for the year a total of reasonable comp is paid!

@remitribelevelup Жыл бұрын

@borismusheyevcpa I suppose that's where I'm looking for more grounding. Hard to define what may be reasonable for a side business.