#409 Open Forum Q & A | Your Tax and Legal Questions!
Main Street Business
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The S Corporation and Social Security Benefits
Congress has been contemplating removing the extra benefit of escorps for years and the benefits could go away soon. Joe Biden made $15 million in his escorp and took a salary of 700 grand, but he saved over $100,000 in FICA. You can either bring your accountant along on educate them or get a new accountant. New Mexico says they just spoke about this on the latest podcast, which was a desk court.
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