Understanding S-Corp Reasonable Compensation
Released Tuesday, 9th February 2021
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Whether you're earning $5,000 a month in sales or $1,000 a month in sales up to seven figures in sales, we highly suggest you take the time to listen to this episode and understand some things you need to know about an S-Corp – because, ultimately, you're going to want this information, especially when we’re talking about tax savings.
The amount of tax savings you can have by being an S-Corp can be very substantial. Even if you're not really ready for one now, you want to make sure that you understand it so you can pull the trigger at any point you're ready.
Now, there's a misconception going around that just because an S-Corp can save you on taxes, you can just simply switch to S-Corp right away and do it by yourself. Well, it doesn’t work that way – unless you’re willing to spend thousands and thousands of dollars, which only defeats your purpose of saving on taxes.
In this episode, you will hear:
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If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it.
Supporting Resources:
ProfitHERO™
028: How An S-Corp Can Save You Big Money O…
DigiTax Pro
RCReports: Reasonable Compensation Simplifie…
Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.
He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.
Find out more at https://emeraldcitypro.com
The amount of tax savings you can have by being an S-Corp can be very substantial. Even if you're not really ready for one now, you want to make sure that you understand it so you can pull the trigger at any point you're ready.
Now, there's a misconception going around that just because an S-Corp can save you on taxes, you can just simply switch to S-Corp right away and do it by yourself. Well, it doesn’t work that way – unless you’re willing to spend thousands and thousands of dollars, which only defeats your purpose of saving on taxes.
In this episode, you will hear:
- Things to consider to make an S-Corp work
- How much you could save on self-employment taxes
- Understanding reasonable compensation
- 3 approaches to getting to your reasonable compensation number
Subscribe and Review
Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet.
We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it.
Supporting Resources:
ProfitHERO™
028: How An S-Corp Can Save You Big Money O…
DigiTax Pro
RCReports: Reasonable Compensation Simplifie…
Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.
He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.
Find out more at https://emeraldcitypro.com
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Moderator Stats
ID
84212377
Episode Number
42
Visibility
visible
Podcast ID
1052270
Episode Details
Length
33m 1s
Explicit
No
Season
1
Episode
42
Episode Type
Full
Episode Tags
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