LLC to S Corp Conversion Kit Program by William Bronchick

Question and Answer

What is William Bronchick –?

William Bronchick – is LLC to S Corp Conversion Kit Do you have one?-member (single)-owner) LLC?.

How does William Bronchick – have?

William Bronchick – LLC to S Corp Conversion Kit Do you have one?-member (single)-owner) LLC?

What is you?

you is If are the only member of the household, you might be paying too much tax!.

How does you are?

If you are the only member of the household, you might be paying too much tax!

What is The majority?

The majority is of small businesses-Business people start an LLC As “single-member”Either as the sole owner, or as husband and wife. They chose the default tax designation, which they called “disregarded”..

How does The majority start?

The majority of small businesses-Business people start an LLC As “single-member”Either as the sole owner, or as husband and wife. They chose the default tax designation, which they called “disregarded”.

What is the LLC Federal income tax purposes?

the LLC Federal income tax purposes is This means that are ignored..

How does the LLC Federal income tax purposes means?

This means that the LLC Federal income tax purposes are ignored.

What is The member?

The member is or members must report their business activity on form 1040, their PERSONAL tax return..

How does The member must report?

The member or members must report their business activity on form 1040, their PERSONAL tax return.

What is They?

They is do this because it’s simple and easy to report on or because they don’t know better..

How does They do?

They do this because it’s simple and easy to report on or because they don’t know better.

What is The problem?

The problem is with reporting business activity on your personal tax is that you can’t do so if you are earning earned (aka: “ordinary” Or “active”Your income and your profits are subject to to Not only federal income taxes but also SELF-EMPLOYMENT taxes (Social Security, Medicare, etc)..

How does The problem is?

The problem with reporting business activity on your personal tax is that you can’t do so if you are earning earned (aka: “ordinary” Or “active”Your income and your profits are subject to to Not only federal income taxes but also SELF-EMPLOYMENT taxes (Social Security, Medicare, etc).

What is you?

you is If have this government “nanny” You pay into a government system “fund” The chances are that you will get your retirement money back one day..

How does you have?

If you have this government “nanny” You pay into a government system “fund” The chances are that you will get your retirement money back one day.

What is you?

you is But can always ask for it if you wish..

How does you can always ask?

But you can always ask for it if you wish.

What is Save thousands?

Save thousands is to of dollars per year by paying attention!.

How does Save thousands paying?

to Save thousands of dollars per year by paying attention!

What is Many small business owners?

Many small business owners is are savvy and form an organization called “The Small Business Experts”. S Corporation for earning income activities This is because: to Avoid eating too much of your own flesh-Employment tax An S A corporation is a “pass-through” entity, which means that there is no federal income taxes..

How does Many small business owners are?

Many small business owners are savvy and form an organization called “The Small Business Experts”. S Corporation for earning income activities This is because: to Avoid eating too much of your own flesh-Employment tax An S A corporation is a “pass-through” entity, which means that there is no federal income taxes.

What is The owners?

The owners is report the net income or loss on their personal tax..

How does The owners report?

The owners report the net income or loss on their personal tax.

What is This type of income?

This type of income is is NOT subject to tax..

How does This type of income is NOT subject?

This type of income is NOT subject to tax.

What is You?

You is can save a lot of tax if you make more than $50k in your business..

How does You can save a lot?

You can save a lot of tax if you make more than $50k in your business.

What is you?

you is However, can’t eliminate all of your expenses.-Employer tax liability; The IRS expects that there be some “reasonable” Salary starting at S corp, which can be subject to payroll taxes (similar to Self-Employment tax However, you don’t have to..

How does you can’t eliminate?

However, you can’t eliminate all of your expenses.-Employer tax liability; The IRS expects that there be some “reasonable” Salary starting at S corp, which can be subject to payroll taxes (similar to Self-Employment tax However, you don’t have to.

What is you?

you is Even if only take half of your profits as salary and the other half as a distribution from the company, S corp allows you to reduce your taxes by THOUSANDS each year..

How does you only take?

Even if you only take half of your profits as salary and the other half as a distribution from the company, S corp allows you to reduce your taxes by THOUSANDS each year.