Paying Ourselves Before Year-end: S-Corps and LLCs

[Music] welcome everybody to this week's episode of the main street business podcast i am here with you mark kohler and my amazing co-host matt sorenson yes i'm delighted to be with you today of course uh now mark this might seem like you know foreign territory behind him that's the office that's that's the that's the office oh you know when you got a video studio you know you don't need to come to the office yeah this is not a video wall of what an office looks like it's actually the office it's actually it's not a pretend office yeah i actually went to the office yeah thank you boy wow little passive aggressive there are we okay just a little little humor i was trying to a little fun you know matt's mocking me this last week was my uh tour through the offices per se christmas parties was in utah office phoenix office yeah you're in the idaho office and marshall's gotta come out and shake the hands kiss the babies you know get those votes get that support yeah just everybody feels loved and uh i felt loved too from this the teams so we wouldn't be here today without all the team you know you know all those christmas parties got to hit the gym um okay today's topic is a good one this we got this is there's a lot of myths i think of people that i need to pay myself or i don't if i don't i don't get i save tags do i have to yeah you'd be good yeah yeah we'll break it down what you need to be doing and how to do it right there's some technical things you got to make sure you get done for those of you that are new to this maybe you're new with an s corporation or it's your first year with an llc or even a sole proprietorship like what do i need to be doing on like payroll what's going to go on my tax return you know you need to be thinking about this right now because there's some mechanics to it there's also a lot of misunderstandings like mark said i think there's some myths out there but i think there's also just like some classic misunderstandings of this a lot of people fall into and make a couple mistakes and we'll hit those so people know what to be planning for and how to kind of also dial this in because there's some strategies here you want to dial in right now on paying yourself that helps you save taxes you want to but the best you can dial it in the better you're going to be on taxes yeah this is good stuff um we will do our normal uh banter maybe a few uh movie tips here as you go into the you know it's that time of season where you know in the evenings you might have a little extra time to just sit by the fire look at the christmas tree watch a good movie and uh 1883 is out some of you may not know this there's a prequel to yellowstone now and if kevin costner wasn't freaking bad a enough we got sam elliott in the prequel to yellowstone oh oh it's like the best so yeah i'll get i'm sure i'll get addicted to that too great yeah but they're you know they've got it down they're just like they're like just releasing an episode a week like the good old days right yeah yeah that's how they get you yeah you know why they've started doing that i've heard one of the reasons is a lot of people will sign up for a specific specific streaming service that only has that show and then they'll cancel it next month so if they drip it out longer it makes you stay in it for a few months at least you know to get the whole season i don't know i like it it helps it's it helps with my addiction of binging that's true on everything yeah yeah when good a good movie um show comes out i just binge it knocked it out okay all right um what do you want to start with let's let's hit a couple basic things that are and dispel some of the myths okay i think so sole props yeah let's talk about soul prop um which if you have an llc and you didn't make an s election on it and it's just you and you set up your own llc you're a sole prop if you started doing business and started collecting payment for goods or services and you didn't set up an entity at all or do anything or maybe you did you got a dba or something which is not an entity but you got a name yeah you're a sole prop too maybe you're driving uber maybe you started delivering some doordash or you sold some stuff on ebay um got an etsy shop you got a real estate commission a sales commission for something you got 10.99 for you're a sole proprietor and i but we need to start we we're trying to not go down any major rabbit holes but if you're uh crypto mining staking uh things like that and you're making money uh that is a sole proprietor uh you're not investing in stocks or tokens or coins or currency and so it's not a long-term holding that's an operational business so that's a schedule c sole product so the golden question is does it do you need to pay yourself does it behoove you to pay yourself or not pay yourself easy yeah and i think on um well let me hit a myth that i get a lot of times people will misunderstand this and this is particularly with llcs well i'm just going to leave all the money in the company bank account i made a bunch of money i'm just going to leave it in the bank account not going to pay myself because i don't want to pay taxes but if i so if i pay myself matt and i transfer it out to my personal account i don't have to pay taxes on that you're paying taxes either way [Music] we got to break your bad news so uh i hate to tell you yeah now for those of you that were driving uber or buying equipment and doing some things or selling on ebay and all that whether you get a 1099 or not is irrelevant you chose to live in america maybe not uh you've decided to stay yeah okay yeah the irs just go with you're here yeah you're here okay someone knows it i'm gonna tax you you may think you're off the grid but you're not um so if you made money you have to claim it and if you don't and the irs catches you that's when bad things happen so don't think well if i leave it in the bank account i won't get taxed or oh i made money doing this and no one's going to 1099 me so i don't have to claim it wrong well i we we won't even go down the i just take cash only live under the table crap i just yeah i'll lose i think they know that's not okay yeah they know they've chosen to live that life but but the point is that's a great point matt it's a myth everybody you're gonna get taxed on that income whether you take it out of the business account or not whether you get a 1099 or not you have to claim it now how many podcasts do we have on all the write-offs you're going to get to take oh we want to we're going to pack that tax return with all sorts of awesome write-offs but you still have that first line i had income and whether you took the money out of the account or not that's it yeah so um let's talk about the sole prop though because in the sole prop really what you're doing is i mean you may be taking money from the business account and you always want to have a separate business account it's so much easier to track your income expense whether this is an llc or just your separate sole proprietorship your taxes are sole problem when you take money from the business account to the personal account that's not really what you're being taxed on what you're being taxed on and when you think of paying yourself you're just taking money out as you want what you're taxed on is the income after all your expenses that's what's going to show up on your taxes now you don't do a w-2 for yourself if you have employees you will but just for you if you're the owner of this this is all flowing on your schedule c you're not doing a double w-2 which we're going to talk about for s-corps here in a minute so your planning is really not that much and i think in terms of what you need to do by your end don't fall into the myth of well i just will leave it in the business bank account i'm not taxed on it ain't working um of course you want to have your books in order so you can determine what's the net income that you're going to end up paying into self-employment tax and income tax on yeah and i'll say i want to throw you a lifeline here everyone and that is you have a lot of opportunity in january february march and into next year to dig up expenses that you may have incurred during the year we want to book mileage we want to book things that maybe you paid cash for or are buried in a credit card somewhere last week we recorded our year-end tax tips and one of them was go out and spend some money on some things you might be buying in january maybe you're going to buy a new computer a new phone a new ipad a new webcam a new this or that so if there's anything you're going to be buying in the next couple weeks taking money out to buy those things before december 31st that's a good idea but if you're just going to put it in your personal account or not put it in your personal account that's irrelevant so that's the myth myth dispel myth busted bloom what were their names jamie and who i don't know who really did i don't remember oh it was jamie and i can't remember the brother but they were okay good guys good guys they did us they did a lot of good in america you know okay okay now s corporations okay different animals yeah this is where there's a lot of meat on the bone so to speak okay okay now i'm talking about like ribs you know you're when you're eating a good set of a good rack of ribs yeah all right you don't you don't want that rib there's no meat on the bone you want the one with the meat on the bone this is i'm i'm pushing over to you now the rib with a lot of meat on the bone yeah this is an exciting one so this one is it's okay here's the myth again whether you take the money out of the s corp or not same story it's irrelevant it's a flow through entity you're going to get taxed on whatever the s corporation made in net income after all your write-offs so whether you leave it in the corporate account or you take it out for yourself you know if we're going to pay kids we're going to pay a spouse or buy some equipment that's a different story listen to last week's podcast on some year-end strategies but when it comes to paying yourself from an escort perspective taking the money out of the account or leaving it in i would say again irrelevant it's payroll allocation yeah what's your advice for the average s corp owner matt where do you start here well you have to start with you really need your books put together you need to know what your income and expense has been through the year now you don't have to have it exactly right like mark said if you're digging out a credit card statement with something you may have expense there's some mileage here and there you weren't tracking so hot um but you need to be pretty close on what your income and expenses because we need to know what you're going to be taxed on if you had 150 grand of income and you had 30 000 in expenses great you got 120 000 of income that you're only going to be taxed on but you have to book those expenses but we need to know what your income expenses because we want to know your net profit first yeah um now for we have a lot of accounts um and tax professionals that follow our podcast and so i'm gonna i'm gonna do basic and then we'll do a little more advanced but yeah many of our listeners whether they're accounts or not they can handle the advance but let's do basic yeah basic is just ballpark just freaking go all right how much money did i take home this year approximately what's my net income i think oh it's very similar to last year just come up with a number and this is where the payroll matrix comes into play that uh matt and i have disseminated all over the country for so many years there and i'm gonna get to the advanced level here for just a moment but the payroll matrix is just a rule of thumb uh we've put that disclaimer all over the matrix to just say this is a safe harbor where you're generally going to be okay and you want to find an allocation for payroll and you say well mark does that mean i need to take the money out and do a paycheck no so again taking money out is irrelevant you're going to do a payroll report an allocation of how much money you feel you need to claim for the f word fica and so taking money out of the account can impact your equation but it's really about how much do you need to claim to be a fair american citizen and pay your fair share of fica and so [Music] it's not really a bank account thing that's the way i explain it matt what how would you do it sometimes you and i say it differently and it clicks for you know the way i say it clicks for 90 of the people and then you say it another way for about 10 of the people so for those few folks out there that well i i want i think no no little giggle at all i mean you didn't appreciate that at all i thought that was no i mean that was you know that hurt i just don't even want to i don't want to argue i mean it's it's the holidays i don't want to get in a fight you know you know enough drama at home i'm a peacemaker okay well i i was good what i was going to add in here and maybe this is a little premature but i was going to add in we do have we want some more numbers here i want to know your net income and i want to know what's going to go on your w2 as wages we also need to know retirement plan contributions that have already been made or that you're going to make here by you know and i also want to know your health insurance payments yeah did you pay for health insurance those are both going on your w-2 on your retirement plan this is like you have to check the box in box 13 and if it was traditional it's going to lower the wage amount you know on the w-2 if it's roth it doesn't so there's you know there's some stuff that's going to come in here that you need to go back and be you know thinking of here's the play on words let me throw out this play on words when we're talking sole proprietorship and llcs we think of paying ourselves as doing an online transfer or writing a check if anybody still writes checks i mean you're really just doing an online transfer when it comes to the s corp and we say pay yourself we're really talking about how much you're going to allocate to paying yourself on the w-2 it's more of a kind of a paper product i don't know just kind of well i think here's a here's a number of ways think of like what did you take from the bank account because i've seen this with clients i had a client a while back it was like they just ran all their personal expenses out of the s corps bank account you know it's like that's effectively paying yourself okay yeah all those those those like payments and credit card that's a mix of business and personal from that like i mean that's all that anything that was paying for your personal stuff that's paying you so you gotta abby adding i mean that you you that's important to know but again we're gonna look at what's the net income we're gonna allocate amount to payroll that's gonna go on the w2 because what the irs wants to know is that you took a reasonable compensation i know you took a reasonable salary on this w-2 and to know what the heck's reasonable the amount you're going to claim we need to know what you had expenses on um through the year yeah now let's let's get on the table the advanced perspective here's the advanced perspective well how much should that allocation be and this is where some accountants go ballistic they think we're a little too aggressive although i want to say right here on public radio on our podcast here that we have never had a client audited for taking too little of payroll we've talked to i had a client get audited on payroll rules this last year client and the pain the kids flew right through with flying colors uh we've had we have ex-irs agents or former irs agents working on our firm feel very comfortable with our payroll allocation so i would encourage many of you accounts that have kind of been afraid of being a little more aggressive there look at the matrix and some of our prior articles on this i think you can get payroll certainly below 50 if not in the 40 30 or 25 payroll range depending on the amount of income and what's going on in the business and that's where you're gonna see that matrix come out point number two is and here's the technical point it's really not your net income that you look at when you allocate payroll it's your draws now and i know some of you're like you hold up you made it sound so simple now you're killing but let's think of it this way let's say you brought in a hundred thousand dollars in your business and you had 25 000 in expenses so you netted 75. well did you take home all 75 i'd say most people do they use their business to live on so it's easy to say look at your net income allocate your payroll that's probably the gen definitely the general rule but there are those people that go i got another job i left the entire 75 grand in my s corp i didn't take any draws at all i just pumped it right back into the business technically under irs rules you don't have to take a payroll because you never paid yourself now that's deep so this is for some of you that have an s corporation where you may fall into that category where you're like i didn't take out all the profit i left a good chunk of it in in the next four to five weeks you want to be meeting with your accountant and talking about okay just like matt said what are all these boxes what's my insurance my 401k oh and i didn't my net income is different from my draws and you want to focus on draws when you're allocating payroll so that's the technical point a lot of you accountants appreciate that i hope yeah okay so okay so give me the let's run an example run an example if you would on i i calculated my draws okay i know what that was um just give me an example okay an easy one and i think this is common of a i would say the average small business owner makes between 80 and 120 000 that's kind of your middle income america so you're making between 80 and 120 net you're that's what you're taking home so um we're looking at kind of that seven thousand dollars a month to maybe ten thousand dollars a month take home so if that's what your netting income and draws are generally close then you're okay again you don't have to be super super accurate on this the irs isn't going to chase down pennies they're looking for the abusers that are like they made 150 grand and they took a ten thousand dollar salary those are the people getting nodded for sure yeah but let's say you've netted 100 grand on our matrix we're going to be at about 40 percent probably maybe even a little less maybe 36 so we take a salary of 3 000 a month times 12 that's 36 looks clean you allocate that to yourself on payroll the remaining um 64 is draw so we're good and so that that is typical um before 401k allocations yeah and remember in case anyone's confused why the heck are you doing this in the first place taking a w-2 and then taking some net income because that's 60 000 plus that you paid as there's just net income essentially or draw this is profit coming through the business it wasn't wages you're not paying into medicare and social security on that there's no self-employment tax that's 15 tax savings on 60 grand that is 9 000 in tax savings by doing that that's the whole point of the s corp and why people do it so but that is that example is the mechanics of it i just want to highlight the outcome in case anybody didn't know yeah that little that little move right there saved a small business owner nine thousand bucks in taxes yeah yeah yeah and we've got podcasts dedicated to the s corp strategy yeah but now let me let me say this what's going to go on when when you're doing this payroll just because you know with many of our s corp clients have solo 401ks and they've got to include your 401k contributions and this is actually box 12. i was just looking this up because the w2 boxes change every year i'm just looking at the current w-2 this is box 12. and you need to put these on there even if they're roth and they're not reducing your taxable amount on the w-2 they still go on there so just remember when you're talking to your payroll provider your payroll company or your accountant whoever you use for it make sure they know what you put in or are going to put in you know for the um retirement plan contributions on the 401k and they need to know that they need to know it's a 401k they code it special they need to know if it's traditional or roth they code that special now if you're doing employer contributions let's say it's a soul okay don't worry about that that's not going on the w2 if you're doing like the matching or the company side that's going on the w-2 and it's an expense on the company return for an s-corp but just remember those s-corp owners when you're doing payroll here remember this w-2 also needs to include retirement plan contributions it's box 12. yeah and and um a nice little side note here is you don't have to write a check to your 401k plan before december 31st whether it's your contribution or the match but you still get the write-off this year so again another myth is they're like oh i've got a 401k i better run down and make my contribution if i want the write-off nope that's easy schmeezy as long as you indicated on the w-2 you're golden the other thing i would say too is it's a this is very very very important if this is your first year as an s corporation or let's say you made a retroactive llc s election scenario you had your llc all year long and i'm working on one here this afternoon they're doing their selection they're going to claim payroll you can get away with doing that year-end payroll allocation on one big fat 941 that's the form number for essentially payroll reporting 941. that's going to be due by january 15th because your deposit is going to be pretty substantive or substantial or substantive so if you don't make that deposit by january 15th there's going to be some penalties you don't you don't want that so you got one in your first year as an s corp you can kind of get away with that one-time allocation in the fourth quarter but now turn in the corner you gotta do it every quarter from now on and you the irs wants their deposit every quarter which is good for you too you don't want to wait till the end of the year and all that i wish i've always been mad seriously for 10 years i've been trying to figure of a good analogy or metaphor of like once you start this you got to maintain it you got to keep doing it i thought of it kind of like the once i had it is like for us guys if you help your wife out in the kitchen and you're and some of you grew up in these very i don't know what do they call them um old-time old school homes where maybe the the husband and wife have very clear duties and this traditional traditional yeah and so some of you break that mold and say hey i'm cool i'd love to help in the kitchen and i'd like to do this or i might help with laundry which may be in a traditional household back in the 50s that would be the wife trying to make sure i don't dig myself in a hole here yeah mark's going like i'm doing that i know i know we correct you with this example but once you start doing that you're like i'm on board you know you ain't going back and um and i think that could be stay-at-home mom stay-at-home dad's same story but and i think my metaphor is that once you start doing something in maybe your relationship your partnership your marriage it could kind of be like well that was nice are you going to keep doing that so it's kind of like that with payroll and s-corps once you start payroll the irs is like you're on board now yeah right you got to do that every quarter so yeah if you have to think of a better analogy for you i'm gonna think of a better analogy for you okay i don't have one yet but it's gonna i'm gonna let it percolate something's gonna come all right it's gonna be better yeah um okay okay but i don't know last week's podcast we did paying your kids paying your spouse hot kids you know all this you know remember that youtube i checked inside you why i just keep talking about everybody that was like 50 million views a youtuber that was a funny funny one um okay but otherwise pain yourself that's it yeah yeah and i think um one other thing i would say and this is somewhat related is some small businesses you didn't make money yet you know you've just started this first year you haven't made any money you haven't had a sale maybe if you incurred some expenses you're still in startup mode that's okay track those expenses you're going to use them in the future grab a sale if you can here by your end we talked about that last week but if you're like guys i kind of dropped 10 grand in this business bank account to kind of go and i've i've spent five of it on it but i haven't really made any money but then i took 2 000 back from that business account because i needed to live on that's okay you didn't make any money the money you put in to start this thing you pull money out that's not taxable you're not going to need to do payroll or anything like that don't worry um so just for those newbies they're starting this year don't get too overwhelmed if you don't have any sales or income yet yeah and and i guess we're trying to give you a you know a little silver lining a little glass half full is it if you know this year you're you know start up just go well there's one good thing i don't have to work for payroll yet you know yeah those suckers that had sales and income they got to be doing their w-2s well i guess i'd be remiss if i didn't bring up c corporations uh at every one of my workshops there's one yahoo in the class that has a c corp and they always feel bad and i'd like to beat the heck out of them by the end of the workshop but it they are an isolated um strategy for the small business owner but if you have a c as in charlie corporation leaving the money in um is a very precarious strategy because you leave it in and you don't take a dividend or payroll the only way to get it out of a c corp is dividend or payroll yeah but i got all sorts of write-offs okay after all your write-offs you still got profit yeah well how are you gonna get it out well payroll well now you're paying fica well if i take a dividend now i okay but i gotta pay corporate tax first i mean it's just a mess so anyway some people will loan themselves money out of the c corp the year-end and actually go through that step they're going to pay corporate tax 21 flat rate and people think oh that's lower than my personal rate that's a good thing no because you have to pay that loan back and then take the money out and take personal tax so you're never really ahead of the curve when you start that it's a scary scary process that's hard to unwind yeah but uh anyway some people will do that with their c corp they'll take out a loan they're expecting big losses next year to chew up the profit next year so they can pay the loan back and not pay tax and it's just tricky we're not a big fan yeah yeah the last comment i just have is i think payroll particularly if you ask corp owners this is where it's a little more arduous you know the sole props and stuff it's a little easier you're not needing to do the w-2 arduous arduous yes wow and taking this to the next level yeah um so but for those escort owners most of them kind of get in a rhythm you know the income you're gonna make you're getting a better rhythm you know what type of salary you're taking you got your quarterlies down of how much your reporting is you know wage income and you're paying your self-employment tax on and then at the end of the year you're just kind of tidying it up you're looking back and being like even if your books are a mess you're looking back you're like yeah i made a little more this money i made a little less than i thought and you kind of dial down fourth quarter up and down based on that um for those that having you know new or that are having significant growth um you know you've gotta you gotta kind of find your rhythm it takes a little bit you gotta find your rhythm um get get in the groove of what's the right amount um and then hopefully you'll i mean maybe you keep growing forever i don't want to hope for that but um but just i just won't want to feel overwhelmed for any of you new people being like oh i got to do this every year and it's going to be chaos and it's like no you'll you'll get to your baseline rhythm and kind of know how to up increase or decrease it based on the year and i will my last admonition is that okay yeah rather than tip that sounds like zombie and scolded like i'm at the principal's office okay you need to be admonished son punished okay you're admonishing this is uh encouragement yeah encouragement is that um first and foremost people let's go out and make money let's have a great year in and see if there you can drum up any final sales before your end do some pre-sales give some discounts try to get some revenue in before your end and go spend some money on some things you're going to buy in january anyway some clients are pushing income to january they're like i don't want to receive money from anyone i'm already in a bracket i don't like i'm going to let all my customers pay me in january be careful make sure you've got proper documentation to collect if someone sniffs you but um let's keep our eye on the ball the eye on the ball is we're running a business we want to make it easy for people to pay us oh and i've got a good story to finish on i got it this is a good story okay and it's on this note so i was out jogging uh over the weekend and i was staying in phoenix because we did the or phoenix i talked about my tour i hit utah i went to phoenix office and then back here in idaho so i was out jogging right now that's not something you do in idaho it's snow and you know ice and you end up good good jogging time in phoenix yeah good job beautiful weather so um i was cruising along and on this corner lemonade stand three kids and these kids are about yeah i'd say 10 years old three little little boys and um i i always stop i want to encourage all of you if you're a business owner these are little budding entrepreneurs make their day pull off pay them double pay them triple have a good time with them ask them how they're doing well i was pretty impressed i pulled over i'm like what do you got well they were doing orange juice fresh squeezed orange nice yeah i like that so i was like i'm all in you know a little more healthier than this sugared up lemonade and they're they got their little you know dude nice right there i have no oranges they're all into it i'm like these guys i'm liking them and they start chatting me up i'm like i love this this guy's like how's your job going how are you doing today i'm like who are you you know i'm kidding you know it's like yeah i mean you know they're like chatting me up and they're they're just all friendly and yeah a beautiful day isn't it and you know and they're just i'm like okay how old are they like ten max not eight you know you can tell the eight-year-old little they're a little you know wide-eyed but these are ten-year-olds and they go um and then here's here's the big this is the big problem i go i don't have any cash i'm jogging but i got my phone with me i go um you guys take apple pay venmo and they're like uh no and i go all right well we gotta get we gotta solve that right now and they're like i go dude you guys can be taking money you gotta make it easy for your customers to pay you you gotta they're like yeah that's a good point and i go all right now i'm i'm gonna make you deal if it's cool i will send you money here on apple pay if you give me your cell phone number and then i want you to delete it i'll delete your number here too i don't wanna you know i just but i can't pay unless i have some way to do it you have venmo no i said okay i can pay you on an apple pay just your phone number and the one kid's like i'll do it i'm like all right so he gave me his phone number and they were selling it for a buck a cup and i said here's 10 bucks you know i love you guys and they're like oh you know they're freaking out so pay them 10 on apple pay and i run off okay i do my loop yeah and i come back i'm coming by and i'm like how sales going guys it's like dude i just sold this lady on apple pay she was like and he's like she's like oh i don't have any cash that's okay we take apple pay and she was like i was like see what i'm saying and i was like ah but you know what there's a huge moral to the story i don't know how many landscapers contractors just people you meet that are doing sales where they're like they don't have a simple way to get payment and and i think we're talking about paying yourselves and all that but the keeping our eye on the ball is make your business easy to work with think of and you think of your 2022 plans think of how can i make it easier for my customers to pay me and get more sales just through ease of systems anyway i don't met any thoughts on that i mean you're a big oh i love that i love that and you know we're accepting crypto now at kqs lawyers so if you want to pay us in crypto that's another way of thinking um make it easier for people to pay you um and that's one of many topics we'll actually be talking about at the crypto tax summit is some strategies on if people are paying you in crypto how you want to handle that there's some tax ramifications to that and um so that's the crypto tax summit on january 29th that's saturday going to be in phoenix virtual and live um go to cryptotaxsummit.com i think it's redirecting to mark's page right now but there's cryptotaxsummit.com easy url to get to the right spot and uh i just want to wish everyone a merry christmas happy holidays i'm really looking forward to the time with family hope you are too and my last thing i would just say is because i've been i've been doing this myself is start doing your inventory of the year start thinking about what you want to do as a strategic plan for next year which is basically your goals and how you're going to accomplish them and start letting that percolate simmer marinate whatever it does in your brain let that happen because we're gonna be talking about it early at the beginning of the year yeah well great great tips um thanks everyone you have a wonderful safe holiday and keep living the dream don't give up [Music] you

Channel: Mark J Kohler

Views: 46,228

Keywords: tax, legal, entrepreneur, asset protection, wealth building, cpa, attorney, lawfirm, Mark J Kohler, Mark Kohler, Crypto, Bitcoin, taxation, income tax, taxes, LLCs, SCorps, llcs vs s corps, Paying yourself, self employment tax, Self Employment, s corp, s corporation, reasonable salary

Id: kTxLIaOdRNM

Length: 36min 45sec (2205 seconds)

Published: Thu Dec 30 2021