Main Street Business #512 The Truth About S-Corps: How To ACTUALLY Pay Yourself
Jul 9, 2024
11:14
In this episode of the Main Street Business Podcast, host Mark J Kohler tells you all you need to know about S Corporations. Learn how to effectively balance your payroll with profit, understand the fundamentals of business structures, and discover tips to optimize your tax benefits.
Here are some highlights:
- Mark points out the confusion around determining the right payroll amount.
- Introduction to the Kohler Payroll Matrix as a solution.
- Mark breaks down the trifecta: revocable living trust, operations, and assets.
- Details on how LLCs and S corporations fit into the trifecta.
- Importance of taking a salary from the S corporation to save on self-employment tax.
- How the payroll percentage decreases as profit increases.
- Emphasis on not overcomplicating the payroll determination process.
- Grab my FREE Ultimate Tax Strategy Guide HERE!
- Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute discovery call to explore the Main Street Tax Pro Certification.
- You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: Main Street 360
- Looking to connect with a rock star law firm? KKOS is only a click away!
- Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
- Craving more content? Check out my Instagram!