3 S Corporation Tax Strategies Explained

I am in the process of changing my LLC to an S Corp and I hope the CPA I hired is as on the ball as you . I appreciate your knowledge and insight

Omg, i should of found you years ago!! I am working on filing my raxes now

I file as an S Corp. Where do we enter the distributions to the shareholders? TIA
Or is it better just to consider them as "draws"?

Im next

Im next

Im next

My cpa filed my tax as partnership I have to amend my taxes give me shout I have a lot to cover sorry..

Love it ..... Go hide lock your doors and write the check...ahhahhahahha Love your videos brother.

wow! Just found you, just started a business, will definitely be following you.

Great info

thank you love your videos i am a new b here my business call GCN, LLC but in my W-9 I choose S. Corp is this okay in your opinion please help me. thanks

Tax planning

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For #1 - isn’t it just easier to have a business credit card and expense it that way?

Tax planning

Not more than 5 percent of the amounts paid or incurred by the employer for educational assistance during the year may be provided for the class of individuals who are shareholders or owners (or their spouses or dependents), each of whom (on any day of the year) owns more than 5 percent of the stock or of the capital or profits interest in the employer.

Tax Planning

I’m next

About if my son went just a semester to a private university, hes currently 19, and he works full time with us. Should I wait till he is 21 to pay that student loan, with the business money? Even if he didnt finished. Or he would have to finish a career?

Hey, i like your channel! I have a couple questions: 1) what if the s-corp doesnt make any money, how do you pay yourself? 2) If the business does make money, do you have to distribute the entire profit, or can you leave some in the business for growth and expansion?

😮 love in the comments!!!!

How would I touch with you?

I just found your channel! this is some good stuff!

You got love

Boris, great video. Can you do 1099 for our kids who worked for the business?

This is next level

some love

love

Why can't someone just 1099 their kids instead of putting them on payroll to avoid all taxes together. Why incur the cost of payroll tax

Thank you that is so great

I just sold a property in Portland and I'm thinking of putting the cash in stocks, I know everyone is saying it's ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

If you work out of the home office, how much is the mortgage and utilities can you claim. Only the square footage of the area? So a percentage of the payment? Or can you do the entire aps bill, entire garbage bill? With the accountable plan. Currently we are an s corp and have the electric bill directly from th3 business account.

What is the downfall of using depreciation of my home? Is it true that the depreciation percentage will be deducted from the profits when I sell my house?

an s corp isn't an entity. it's a tax election

Tax planning

Thank you Boris

Excellent advice !

I'm next.

Thankyou

Boris, you are phenomenal!! I'm going to follow you like a lost puppy! Thanks!!

Can I use Accountable Plan in other types of entities (LLC, C Corp, Partnership, etc)?

Great video. I would like to discuss with your team

Amazing value provided in this video. Thanks Boris!

Tax planning

Great stuff. You also sound like Adam Sandler. I'm sure that's not the first time you've heard that.

Are 280A ("Augusta Rule") days accountable plan reimbursements or are those done separately?