S Corp Tax Benefits & Advantages Book – WCG CPAs
Product Name: S Corp Tax Benefits & Advantages Book – WCG CPAs
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S Corp Tax Benefits & Advantages Book – WCG CPAs is backed with a 60 Day No Questions Asked Money Back Guarantee. If throughout the first 60 days of receipt you aren’t happy with Wake Up Lean™, you possibly can request a refund by sending an e-mail to the tackle given contained in the product and we are going to instantly refund your whole buy value, with no questions requested.
Description:
Posted Thursday, October 14, 2021
WCG and Jason Watson, CPA, have launched the 2021-2022 Edition of Taxpayer’s Comprehensive Guide to LLCs and S Corps. 430 pages of pure pleasure! This version has up to date 2021 information comparable to IRA and 401k limits together with Social Security wage limits, however it additionally has a bunch of latest data unfold out numerous chapters comparable to custom-made multi-entity buildings, expanded cheap shareholder wage sections, extra tax discount mechanics amongst numerous little tidbits gleaned from a whole bunch of small enterprise consultations. Riveting!
We have a number of examples exhibiting how the Section 199A works, why S firms stay an awesome software for tax financial savings and why reverting to a C company is a nasty concept. We additionally focus on entity formation, S Corp elections, cheap shareholder wage and enterprise tax deductions. Frankly the Section 199A stuff is just about 40 pages of the fabric… the remainder is nice ol’ style enterprise stuff!
Before you spend your cash, we encourage you to assessment the highlights under and obtain a pattern of Taxpayer’s Comprehensive Guide to LLCs and S Corps by utilizing the next button, or the digital but full model from our KnowledgeBase-
But when you saying to your self, “Self, just get the darn book and start taking care of business” then click on on one of many buttons below-
Here are some testimonials to make you’re feeling higher (after all we solely picked the great ones… identical to referrals)-
Ronny R. says, “I enjoyed it! Gave me lots to talk about with my CPA.“
Britt S., Esq. says, “Thank you so much for speaking with me last week! You are amazing and I greatly appreciate all of the information you emailed me. I am in complete adoration of your book!”
Lisa A. says, “Detailed information about the pros and cons of creating a small business. Lots of great detail about the tax benefits and consequences. NOT a ‘dummies’ book – it assumes you already have some background knowledge.“
Brett B. says, “I read your ‘Comprehensive S Corp’ book. Wow. You blew my mind. I thought I understood S Corps.”
Larry M. says, “I found it helpful, but could have gone into a little more detail. There is one main way to save money as an s corp, and how to determine ‘how much you can get away with’ could have been expanded on a bit more. Otherwise, pretty good guide.“
M.S. says, “Great read for first time self-employed corp owners. Covers all the main basic of taxes and caveats. Well written and simple to understand for those not well versed in tax law.“
If you buy our 430-page book and think that we didn’t help you understand small business tax law or the benefits of S corporations, let us know. We never want you to feel like you wasted your money. If you are ready to add some insightful reading into your day, click on one of the preferred formats. Amazon is processed by Amazon, and the PDF is safely processed by ClickBank who will email you the PDF as an attachment.
Current release is 2021-2022 Edition which includes the Section 199A deductions for small businesses and SECURE Act of 2019. We might have additional updates as the IRS provides further guidance. Please email us to let us know you want an updated version, and we will ship free of charge. You may also want to visit our blog to catch up on some recent guidance and other issues surrounding small businesses-
How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of KnowledgeBase articles on the WCG website. The articles touched on basic topics such as how to elect S Corp status, shareholder payroll, reasonable salary determination and liability protection. Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. Beyond general S Corp benefits, our 2021-2022 edition of this book will show you-
Each week we receive several phone calls and emails from small business owners and other CPAs across the country who have read our Taxpayer’s Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you.
This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of precision of the words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.
Here are some additional resources-
Section 199A deduction also known as the Qualified Business Income deduction (QBID) arises from the Tax Cuts & Jobs Act of 2017. This is a significant tax break for small business owners but there are rules and limits of course. We have written a short article which outlines what is considered a qualified business for the qualified business income deduction including the dreaded specified service trade definitions (which is easily summed up as “any trade or business where the principal asset is the reputation or skill” of the proprietor). All these things is in our ebook as nicely!
Click on the button under for our articles-
S firms stay a crucial tax saving software for 2 causes. First, the standard self-employment tax financial savings stays intact for all enterprise house owners together with specified service trades or companies. Second, a enterprise proprietor may must pay W-2 wages to himself or herself to not be restricted by revenue, and solely firms will pay W-2 wages to house owners (in different phrases, an LLC can’t with out an S Corp election). Read the article above for riveting data!
This data can also be integrated into our ebook together with examples and calculations. Happy Happy Joy Joy!
WCG focuses on small companies who usually have fewer than 100 staff. Why? We wish to assist individuals, and extra importantly we wish to assist the enterprise proprietor straight. Frankly talking, as soon as a enterprise will get to a sure dimension administration layers get in the way in which of proprietor entry. Access permits us to make sure the proprietor(s) are leveraging essentially the most out of their enterprise for themselves and their households.
Because small enterprise is a core competency for us, we’ve got created enterprise advisory service plans which embrace these actually cool things-
We even have Tax Patrol! This is a superb tax service for many who don’t want all of the enterprise advisory bells and whistles above, however infrequently need some love from an skilled tax marketing consultant and enterprise advisor. Have a fast tax query? Need to know the depreciation guidelines as you purchase that new automotive? Wondering what your April tax invoice goes to be in August? Tax Patrol is like ski patrol… you won’t use it, however you sleep higher realizing you might have it.
The following are further enterprise providers to get your enterprise launched and on the way in which. Some of those are teased out individually as one and executed charges like formation and onboarding stuff.
Payroll Processing
We make little or no earnings on payroll processing… we provide it as a comfort to our shoppers. One throat to choke with a single name might be reassuring however if you wish to run your payroll, go for it! Everyone thinks payroll is a chunk of cake; write a test and executed. Nope… we see numerous errors being made by shoppers particularly the dealing with of medical insurance and HSA contributions since there are particular guidelines for better than 2% S Corp shareholders. Then once more, we don’t thoughts fixing what was damaged.
Tax Returns
You can put together your personal particular person tax return as nicely… however the profit WCG getting ready each particular person and enterprise tax returns is that we slide issues round relying on revenue limitations, phaseouts, different minimal tax (AMT), Section 199A deduction optimization, and many others. Having our arms round each can yield some good tax financial savings!
We usually are not salespeople. We usually are not placing lipstick on a pig, and making an attempt to persuade you to find it irresistible, even when Tom Ford’s Wild Ginger appears superb. Our job stays being professionally indifferent, supplying you with data and letting you determine.
We see far too many loopy schemes and half-baked concepts from attorneys and wealth managers. In some circumstances, they’re good concepts. In most circumstances, all of the entities, layering and combined possession is just the phantasm of precision. Just as a result of you possibly can complicate the crap out of your life doesn’t imply it’s essential to. Just like Chris Rock says, simply because you possibly can drive your automotive together with your ft doesn’t make it a good suggestion.
Here is a quick abstract of the following steps do you have to wish to have interaction WCG with Business Advisory Services or Tax Patrol-
1. We schedule an appointment to debate your wants and be certain that we’ve got the correct sources that can assist you.
2. We draft a proposal outlining the scope of providers and our mounted annual charge.
3. If vital, we schedule one other appointment to assessment the proposal and maybe tighten issues up or make adjustments.
4. Once the proposal is signed, the enjoyable begins with onboarding. We have an intensive guidelines and inner process listing to correctly onboard you and your corporation. Some issues are concurrent (comparable to gathering housekeeping docs and organising payroll) and a few issues are sequential (for instance, gathering monetary information after which providing wage suggestions and making a tax plan). Onboarding is like having a child; a SWAT group reveals up and does a zillion issues, and poof, everyone seems to be gone aside from mother and child.
5. After onboarding (often 4-6 weeks), issues calm down right into a rhythm- Tax preparation within the spring, tax planning in the summertime, with payroll and routine session bouncing alongside all year long.
As talked about elsewhere we primarily concentrate on small enterprise house owners and their distinctive session and tax preparation wants. With over 40 full-time session professionals together with Certified Public Accountants, Enrolled Agents and Certified Financial Planners in your group, WCG consults on customized enterprise buildings, a number of entity preparations, S corp elections (even late S corp elections again to January), tax methods, enterprise teaching, trade evaluation, government advantages, retirement planning together with particular person 401k plans, exit methods, enterprise valuations, revenue tax planning and modeling, and tax illustration.
We additionally work with enterprise legislation attorneys for enterprise house owners who’ve further wants comparable to drafting Operating Agreements, charge for service contracts, shopping for or promoting a enterprise together with worker inventory possession plans and companion purchase-ins. In addition, WCG coordinates with third get together plan directors comparable to Polycomp and RPS to create age-based mostly revenue sharing plans and money steadiness (outlined profit) plans. We can run level on no matter your corporation wants to make sure that communication is efficient and environment friendly permitting you to promote widgets.
Here are some further sources you may discover helpful.
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All orders are protected by SSL encryption – the best trade normal for on-line safety from trusted distributors.
S Corp Tax Benefits & Advantages Book – WCG CPAs is backed with a 60 Day No Questions Asked Money Back Guarantee. If throughout the first 60 days of receipt you aren’t happy with Wake Up Lean™, you possibly can request a refund by sending an e-mail to the tackle given contained in the product and we are going to instantly refund your whole buy value, with no questions requested.
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