No one should worry about s corps or llc until your buisness turns profit or you need a legal entity for payment processor it's just a way of lowering personal liability and you can file the paperwork at through your state and state website save money.
Starting an LLC or S Corp after reaching profitability or needing liability protection is sensible, but early formation has benefits too. An LLC offers liability coverage and simpler management, while an S Corp can lower self-employment taxes for higher income. Consulting a professional ensures you choose the best fit as your business grows.
Using pre-tax contributions in an LLC or S Corp can reduce taxable income during high-earning years, while post-tax contributions like Roth options can ease taxes in retirement, creating a balanced tax strategy.
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Julianne appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
I have a few questions, if you have a single owner S-corp . Is it possible you pay yourself with only distributions? Or do you HAVE to take a salary? Also i read many billionaires pay themselves with shares from the company itself. Can single owner s-corps do this?
If you take distributions, you are required to take a Reasonable Salary. As a single owner of the company, you already own 100% of the shares. S Corps only have one class of stock. So you can't reissue you the same ownership.
No one should worry about s corps or llc until your buisness turns profit or you need a legal entity for payment processor it's just a way of lowering personal liability and you can file the paperwork at through your state and state website save money.
Starting an LLC or S Corp after reaching profitability or needing liability protection is sensible, but early formation has benefits too. An LLC offers liability coverage and simpler management, while an S Corp can lower self-employment taxes for higher income. Consulting a professional ensures you choose the best fit as your business grows.
Using pre-tax contributions in an LLC or S Corp can reduce taxable income during high-earning years, while post-tax contributions like Roth options can ease taxes in retirement, creating a balanced tax strategy.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. Do you have any?
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Julianne appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
Hi Julie
Thanks for providing this video
Sure thing, I hope it answered your questions.
S.c.w.muslim.child family said maxamed siciid cabdi business bank garoowe.acouint.nuber.130192.from.soomaliya l.b.s by nuber bank accounts form
I have a few questions, if you have a single owner S-corp . Is it possible you pay yourself with only distributions? Or do you HAVE to take a salary? Also i read many billionaires pay themselves with shares from the company itself. Can single owner s-corps do this?
If you take distributions, you are required to take a Reasonable Salary. As a single owner of the company, you already own 100% of the shares. S Corps only have one class of stock. So you can't reissue you the same ownership.