Entity Formations and Considerations Podcast
Business entity considerations such physical nexus, economic nexus, LLCs versus corporations, S Corp vs LLC, and how this impacts professionals such as attorneys, physicians, accountants, engineers, etc. plus adding other members such as a spouse or children. They also touch lightly on the benefits of an S Corp (see other video).
S Corp Election Podcast
S Corp vs LLC, the taxation of an LLC, S Corp taxation, the benefits of an S Corp and other things. They also review if an S Corp election makes sense, and when you should and when you shouldn’t. Lastly, they discuss the S Corporation election process involving Form 2553 and shareholder consent.
Latesha Anderson takes you through forming your business entity including registering with the secretary of state, obtaining an EIN from the IRS, operating agreements, accountable plan and annual reports.
Multi-Entity Business Structures
Do you want all the benefits of an S corporation election while still operating under a variable revenue split arrangement with your business partner? You can! Jason Watson, CPA highlights how two or people can split up into “baby S corporations” while still owning the “mother ship” together.
Business Operating Agreements
Operating Agreements for your multi-member LLC (partnership) are often missing critical components. Jason Watson, CPA, takes you through voting rights, death, divorce and incapacitation, formal accounting (challenge by other members), corporate waste, forced distributions, exit strategies, business valuation and dispute resolution.
S Corp Benefits
How can you avoid self-employment taxes? An S corporation might help. We will show you how the color of money changes when electing your entity to be taxed as an S Corp. Jason Watson, CPA, of WCG Inc. takes you through the S Corp vs LLC math including a garden-variety LLC and having this same LLC taxed as an S Corp.
Does an S Corp Election Make Sense
Joseph Bassett, known around the WCG kegerator as Joey, outlines the 185 reasons you might not want to be an S corporation. That’s not entirely true. Yes, we call him Joey. That’s true. But… he only outlines about 7 different considerations from income levels, to locations, to multiple business owners, to all kinds of things.
S Corp Election Paperwork
How do you form an S corporation? Technically, how do you create an entity and have it taxed as an S Corp? Latesha Anderson of WCG Inc. takes you through forming your business entity including registering with the secretary of state, obtaining an EIN from the IRS, filing Form 2553 (S Corp Election) and other issues surrounding S corporations.
Late S Corp Election
Latesha Anderson and Joseph Bassett take you through the late S corporation election. Yes! You can go back to January of last year and elect S Corp tax status. Yes, there are very specific IRS revenue procedures to accomplish this and some important timelines. Yes, we can help but this video gives you a wonderful overview.
I Just Got an S Corp, Now What?
Jason Watson, CPA, takes you through the infant and toddler years of owning an S Corporation. There are things than can surprise even the most seasoned business owner; setting up payroll, processing reasonable shareholder salary, tax projections, corporate tax return preparation, how an S Corp affects your individual tax return and small business bookkeeping.