S-Corporation tax questions
Good afternoon BP,
I am seeing a ton of S-Corporation questions recently. The election must be made in the first 75 days of the year to be timely. That said, you need to weight the self-employment tax savings with costs associated with setting up and paying "reasonable compensation" via payroll and compliance. There are other factors such as potential employee benefits that need to be considered. That said, I just recorded a podcast on this subject. If you are interested in the link please message me. Have a great day.