Navigate the complexities with a free tax consultation: Call (801)790-0473 or schedule a call here:
https://calendly.com/tryvydefree/trui...

For Businesses that are profitable, and the goal is to take the profit out of the company in a tax efficient manner, S-corp is a great tax designation to elect for your business., potentially saving thousands depending on the level of profitability of your business.

Recommended formation service - We have negotiated with Northwest to provide the best discount and packages for our users, we get compensated when users use our discount links.

💼 For LLC 75% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link -https://go.truic.com/3LQfqog (paid)
Fees are as follows $29 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)

🏆 For S-Corp 60% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - https://go.truic.com/3ZSZZl2 (paid)
Fees are as follows $89 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)

🧮 To see how much you can save by forming an S corp check out our Scorp calculator:
https://howtostartanllc.com/form-an-l...


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All S corp owners must pay themselves a 'reasonable salary' in order to compensate themselves, but what does the IRS consider reasonable compensation? This video guide will explain how to determine your S corp reasonable compensation and how to pay yourself as an S corp.

TIMESTAMPS
0:00 Intro
0:53 1. What is an S Corp?
1:20 2. How Owners Get Paid
2:23 3. What is a Reasonable Salary?
3:21 4. Exceptions
4:09 5. How to Calculate Your Salary
5:09 6. Resources
6:13 7. The 60/40 Rules
6:51 8. Salary Taxes
8:31 9. Example Salaries
8:31 10. Is an S Corp Right for Me?

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📙 For a detailed step by step guide on starting an S-Corp as an LLC, go here:
https://howtostartanllc.com/start-an-...

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