William Bronchick – LLC to S Corp Conversion Kit

William Bronchick LLC to S Corp Conversion Kit

You can’t, however, eliminate ALL of your self-employment tax liability; the IRS expects that you take some “reasonable” salary from your S corp, which is subject to payroll taxes (similar to self-employment tax).  However, you do NOT have to take all of your profit as salary.

“This course can be ordered and delivered within one hour!But you can’t get rid of ALL of yourself.-Employer tax liability; The IRS expects that there be some “reasonable” Salary starting at S corp is the subject to payroll taxes (similar to Self-Employment tax 

William Bronchick – LLC to S Corp Conversion Kit

Are you a single?-Member (single)-owner) LLC?

You may be paying too much tax if you are the only member.  Small businesses are the best!-People start businesses. LLC As “single-member”They can either be the sole owner, or the husband and wife. They chose the default tax designation (also known as “disregarded”.  This means that the LLC Federal income tax purposes are ignored. The member or members must report any business activity on their personal tax return, form 1040.  It’s easy and straightforward to report, or because they don’t understand better.

There is one problem with reporting business activity on your personal tax. If you are earning earned (aka “aka”) income, it will not be reported. “ordinary” Or “active”Your income and your profits are subject to to Federal income taxes are not the only thing that is important, but so is SELF.-EMPLOYMENT taxes (Social Security, Medicare, etc). This government benefits you if “nanny” You pay into a large government system “fund” You might get it back one day at retirement. If so, read on.  But you can choose to do so if that is what you desire. to You can save thousands of dollars each year by simply paying attention and PAY ATTENTION!

Many small-business owners are savvy and form an S corporations for earned income activities This is because: to You can save a lot of yourself-Employer tax An S A corporation is “pass-through” entity, which is a type of income that does not attract federal income tax. Instead, the owners report the net income or loss on their personal tax returns. This income is not subject to federal income tax to Self-Employment tax You can save a lot of tax if you make more than $50k in your business. 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 is the subject to payroll taxes (similar to Self-Employment tax  But, you don’t have to. to All of your profits should be used as salary. Even if you only take half of your profit as a salary, and the other half as a distribution to the company S Corp allows you to reduce your taxes by THOUSANDS each year.

HERE’S WHAT YOU GET WITH THE KIT…

You will find the following in my downloadable package:

The LLC Operation manual
IRS forms to Choose your S Corp election or change to an existing tax election
S corp/LLC Operating agreement (for a new or amended filing, if you are converting an already existing file). LLC)
Download sample minutes of meetings annual and special
LLC Buy for a member-Sell agreement (for LLCs that have two or more members
Template for membership certificate and form to join the roster
Minutes of an organizational meeting (for a new version) LLC/S Corp)
Summary S corp tax rules
Consent to be substituted for a meeting form
Instructions for the appointing of officers to Your LLC (President and Secretary)

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