Should I Be Taxed as an S-Corp?
Business owners (or wannabes) - we're getting tactical today! Don't skip this 'sode just because it doesn't sound sexy...it might save you tens of thousands of dollars in your business over the next few years.
As business owners, we actually get a ton of tax benefits that a regular employee does not. One of those is the ability to choose how we are taxed.
This is all about the payroll taxes (~15%) we are all required to pay. When you were an employee, your employer contributed half of those (7.5%) and you contributed the other half (7.5%). Now that you're acting as both, you can owe 15% on…
The skinny
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