Скачать или смотреть Unlocking Tax Savings with an S Corp

Are you maximizing your tax savings? Let's dive into the numbers, because this is a powerful strategy. As a sole proprietor with a profit of $100,000, you’re dealing with $15,300 in self-employment tax. Switch to an S Corp, and pay yourself a reasonable salary—say, $60,000. You'll pay around $9,180 in payroll taxes on that salary. The remaining $40,000? You take that as a distribution, avoiding payroll taxes entirely. That's a tax savings of $6,120! For higher earners, these savings can be even more substantial.

Curious how this strategy can work for you? Visit https://www.bookkeepingcoach.net/ to learn more about optimizing your tax strategy.