Electing to be taxed as an S-Corp can be a smart tax move for some companies, and a bad one for others.
Nate Yesner joins Michael to discuss the ins and outs of S Corp elections, including the tax ramifications and other considerations for business owners to evaluate.
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Episode Highlights
- Overview of the different entity structures available to new companies.
- Comparison of tax bills to owners of LLCs that elect to be taxed as partnerships compared to S Corps.
- Review of the self employment tax calculation.
- Discussion of other factors that play into the S Corp election decision.
- How to avoid common mistakes made by entrepreneurs.
Episode Resources
- Considerations before making an S Corporation election for taxation [ENGAGE CPAs]
- S Corporation Examples [Downloadable Spreadsheet]
Today’s Guest: Nate Yesner, ENGAGE CPAs
About The Tax Efficient Investor Podcast
On the Tax Efficient Investor podcast, we show you how to protect, grow, and transfer your wealth by implementing tax-advantaged investment strategies. Host Michael Johnston demystifies tax strategies that are favored by the most successful and sophisticated investors, including 1031 exchanges, IRA & 401k plans, HSA accounts, trusts, real estate, and more.
