This video is for Real Estate Agents, Brokers and other Small Business Owners who want to understand how an S Corporation can save you thousands of dollars in taxes. I compare the self-employment taxes that you pay if your business it taxed as a Sole Proprietor vs. an S Corporation.
The S Corporation is a tax classification (not a legal entity such as an LLC or Corporation). You can elect to have your LLC, PLLC, P.A., P.C., or C Corporation taxed as an S Corporation by completing and submitting paperwork with the IRS.
Take what you learn from this video and ask your tax professional all of your specific questions. If you want to contact me, my information is below.
Remember, this is a very important decision that may or may not save you money in taxes depending on a variety of factors. Please don’t elect S Corporation status without consulting a tax professional that knows what they are talking about – all tax prepares are NOT the same.
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