How to Fill in Form 2553 Election by a Small Business Corporation S Election
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How to Fill in Form 2553 Election by a Small Business Corporation S Election
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Making the Election to be an S Corporation
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Yes, you can legally pay your spouse to reduce your tax bill. Many entrepreneurs do this through their S-Corp by putting their spouse on payroll and maxing out a 401k for them. But here’s the catch: if your spouse doesn’t need that salary, there are smarter plays, like leveraging the real estate professional strategy. That way, instead of earned income, your spouse earns passive income from investment properties… while still unlocking active deductions to offset W2 or 1099 income. | Karlton Denn
14.5K views7 months ago
FacebookKarlton Dennis
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NEW! For High-Income Professionals Paying Over $100k/Year In Taxes: CPAs focus on filing returns, not saving you money. That’s why you need a Tax Strategist instead. In fact, the only difference between paying a fortune or saving a fortune in taxes is Tax Strategy. Discover why our expert tax strategists are the secret weapon of the rich in my brand-new free training. Thanks to our RRAD method, you’ll see how our clients typically get their tax bills reduced by 50-80% in 90 days or less. Click t
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Discover how to legally reduce your tax bill by 50-80% in the next 90 days (this is ONLY for high-income professionals paying over $100k/year in taxes) | Karlton Dennis
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FacebookKarlton Dennis
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NEW! For High-Income Professionals Paying Over $100k/Year In Taxes: CPAs focus on filing returns, not saving you money. That’s why you need a Tax Strategist instead. In fact, the only difference between paying a fortune or saving a fortune in taxes is Tax Strategy. Discover why our expert tax strategists are the secret weapon of the rich in my brand-new free training. Thanks to our RRAD method, you’ll see how our clients typically get their tax bills reduced by 50-80% in 90 days or less. Click t
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FacebookKarlton Dennis
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Discover how to legally reduce your tax bill by 50-80% in the next 90 days (this is ONLY for high-income professionals paying over $100k/year in taxes) | Karlton Dennis
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Slash Tax Bills by 50-80% in 90 Days
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FacebookKarlton Dennis
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Most people form an LLC thinking it’ll save them money on taxes. But here’s the truth: LLCs give you liability protection, not tax protection. You’ll still owe income tax AND self-employment tax on everything you earn. Once your business starts pulling in $50K or more, that tax bill gets real. That’s when it might be time to upgrade to an S-Corp. Why? Because with an S-Corp, you can split your income into salary distributions, and only pay self-employment taxes on the salary part. That move alon
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FacebookKarlton Dennis
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How to Change LLC to S Corp Tax Status tutorial of IRS form 2553 to elect S Corp
56 viewsJun 14, 2023
YouTubeFearless Financial Family
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The IRS is literally betting on you not knowing this… it’s called the Augusta Rule. If you own a business, you can rent your house to your LLC or S-Corp for up to 14 days a year, and that income is entirely tax free. All it takes is a fair market rental agreement and proper documentation. That’s 14 days of tax-free money back in your pocket instead of the IRS’s. Comment “Augusta” and I’ll send you the full breakdown. | Karlton Dennis
19.1K views7 months ago
FacebookKarlton Dennis
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