S-Corporation Tax Calculator [Spreadsheet]--When & How the S-corp Can SAVE TAXES vs. Sole-Proprietor

Рет қаралды 49,011

3 жыл бұрын

The S-corporation Tax Savings Calculator, allows you to compare SOLE-PROPRIETOR VS. S-CORPORATION TAXES! Get the spreadsheet template HERE: www.bizschool.coach/bestbizco...
Check out below for time-stamped topics...
Check out PART 1: How To Pay Myself In My Business for more on the basics: • How To Pay Myself In M...
As you learn in this video, saving money with the S-corp is a GREAT strategy, but it's also HUGELY based on the details of your situation - there's a lot more to it than just.. "electing s-corp status"
TOPIC TIMESTAMPS:
S-corp Spreadsheet Calculator [Business tax calculation explained for S-corp vs. Self-employed]: 1:20
Reasonable Compensation: 5:30
Summary of S-corp Taxes: 9:52
Distributions: 11:30
Basis: 11:55
Example 2, 3, & 4: 13:28
Other S-corp Costs: 17:15
Self-employed tax write-offs & an "Accountable Reimbursement Plan": 18:05
-- My PAYROLL Software Recommendation gusto.com/r/PloJd/?... -- {It's the BEST one!!}
ACCOUNTING SOLUTIONS:
1. Need help organizing your accounting & taxes? Get the FREE basic template and training! www.amandarussell.mba/gettheb...
2. Alternatively, I have a complete accounting and tax solution *Master Your Accounting & Taxes*, which you can learn about here: www.bizschool.coach/18stepcourse
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Пікірлер: 22

@BurtonLawLLC 3 жыл бұрын

Great video! Thanks for the comprehensive comparison and for showing all the calculations as you run through the different scenarios!

@ericcash7797 3 жыл бұрын

Great Content ....

@sangnguyen-sv2lj 3 жыл бұрын

Like? No. Love it!

@dr.radmanesh 3 жыл бұрын

Great info!! Correct me if im wrong but you are already saving huge amount by paying yourself dividends correct along side paying yourself the reasonable salary.

@shrubskrub3980 3 жыл бұрын

You are correct. Dividends are not subject to fica or self employment tax

@larrybreed7326 3 жыл бұрын

Helpful information! What is a reasonable percentage split between salary and owner distribution from an s-corp and is your s-corp vs self-employed spreasheet available for purchase without purchasing the training course?

@businessfinancecoach 3 жыл бұрын

it's not a split, that's what I explain in the video.... no, consider the fee for the spreadsheet and the course is free!

@BusinessCoachP 3 жыл бұрын

Hello and warm wishes,

@donvoigt5020 3 жыл бұрын

Hello from Virginia

@wild_style5010 3 жыл бұрын

Hi Amanda, do you do private consultations? I am a dentist independent contractor and have questions regarding how my PLLC should elect to be taxed and solo 401k implications. Thanks!

@oldnirvana 3 жыл бұрын

can we download that spreadsheet?

@businessfinancecoach 3 жыл бұрын

Yes! here: www.bizschool.coach/bestbizcourse

@donvoigt5020 3 жыл бұрын

Hello from starlight painting inc.

@businessfinancecoach 3 жыл бұрын

hello starlight painting!

@mattcruz5915 3 жыл бұрын

Is there somewhere I can download the spreadsheet?

@businessfinancecoach 3 жыл бұрын

Yes, thanks for the reminder! www.bizschool.coach/bestbizcourse

@christopherbenton4643 3 жыл бұрын

Also, always check the drop down description below videos on KZfaq, as a general rule. The link is there, too.

@mrpangy4174 3 жыл бұрын

As I watched I was wondering how tax brackets figure into the advice you would give. As an example if the "business entity" makes $180,000 and the "person" makes $42,000 (a lower tax bracket) can the business pay the "person" x dollars to be taxed at a lower rate?

@businessfinancecoach 3 жыл бұрын

yes, well that's the purpose of the spreadsheet