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Tax Saving Secrets for Entrepreneurs and Side Hustlers with Carter Cofield

Everyone's Talkin' Money

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How Do I Know When It's Time to Create an Actual Company Structure?

i recommend you stay as sol proprietor while you're still formulating the business idea, like whether youe wether yo gwing to sell the product or service. Once you have over forty thousand dollars net income, you want to upgrade that llc to a s corporation. And why we want to do that is because the s corporations help us save a lot of money on self employment taxes,. which is like fica, medica, stuff like that.

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