What Is an S Corporation and Does It REALLY Save You on Taxes?

Some tax pros say you should always set up an S Corp for your business once you reach a certain income level. They aren't giving you the full picture. Logan Allec, CPA, explains exactly how an S Corp saves you on taxes, situations where an S Corp is NOT a good idea, and the advantages and disadvantages of having an S Corp. Plus, he has info about a company called Collective that can handle S Corp details for you.

► Collective (Use Coupon Code LOGAN for 50% Off Your First 2 Months!): https://moneydoneright.com/collective/

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Table of Contents:
0:00 What Is an S Corporation?
0:57 Intro to Collective + Promo Code LOGAN
1:36 How to Set Up an S Corp
2:24 Tax Benefits of an S Corp
3:12 Example: Tax Liability for Sole Proprietor vs. S Corp
7:13 Additional Costs of Having an S Corp
7:50 Situations When Having an S Corp Is a Bad Idea
11:47 Advantages of Having an S Corp
12:53 Disadvantages of Having an S Corp
14:34 How to Decide About Having an S Corp
14:50 How Collective Can Help

#smallbusiness #soleproprietor #scorp