Navigate the complexities with a free tax consultation: Call (801)7900473 or schedule a call here:
https://calendly.com/tryvydefree/trui...

For Businesses that are profitable, and the goal is to take the profit out of the company in a tax efficient manner, Scorp is a great tax designation to elect for your business., potentially saving thousands depending on the level of profitability of your business.

Recommended formation service We have negotiated with Northwest to provide the best discount and packages for our users, we get compensated when users use our discount links.

For LLC 75% link https://go.truic.com/3TXeljp'>https://go.truic.com/3TXeljp
Fees are as follows $29 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)

For SCorp 60% link https://go.truic.com/3HcUgxU'>https://go.truic.com/3HcUgxU
Fees are as follows $89 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)

To see how much you can save by forming an S corp check out our Scorp calculator:
https://howtostartanllc.com/formanl...


Understand the complexities of S Corporations in this detailed guide by TRUiC, designed to provide entrepreneurs with a clear understanding of what an S Corp is and its advantages. Learn how electing this tax status can impact your business, from potential tax savings to operational requirements.

TIMESTAMPS
0:24 1 What is an S Corp?
1:08 2 Advantages of an S Corp
2:47 3 When to Elect S Corp Status
5:03 4 Electing S Corp Status
6:31 5 What is a Reasonable Salary
8:14 6 When Not to Elect S Corp Status



DISCOUNT LINKS, FREE TOOLS & RESOURCES

Below we have some paid links from our partners. If you decide to use their services through our exclusive negotiated deals, we get paid a small percentage. Thank you for your support in our efforts to make business information free for all!

We Recommend using Northwest to form your LLC which includes 1 year Free Registered Agent Service.
Northwest 75% link https://go.truic.com/3TXeljp'>https://go.truic.com/3TXeljp (paid)
($29 + state fee)

Create an S Corp with Northwest:
https://go.truic.com/3HcUgxU'>https://go.truic.com/3HcUgxU (paid)

‍ If you need a registered agent service, use this discount link:
https://go.truic.com/47xCu32 (paid)



Need to Talk to a Tax Specialist for your S Corp Questions?
https://truic43623.activehosted.com/f/19



Check out our Business Name Generator to make a great name for your business & domain
https://howtostartanllc.com/business...

AI LOGO GENERATOR
https://howtostartanllc.com/logomaker

QR CODE GENERATOR
https://howtostartanllc.com/qrcodeg...

S Corp vs LLC
   • S Corp vs LLC  (Should you choose an ...  

What is an S Corp written guide:
https://howtostartanllc.com/whatisa...

#scorp #distributions #taxes #SCorpExplained #BusinessTax #Entrepreneurship #SmallBusiness #taxstrategies