When you’re doing research about setting up a business you'll come across a ton of content that promotes the S Corporation and, after trying to comprehend all of it, you’ll usually conclude that the S Corp is the way to go…BUT...do you actually know what it is and if it is right for your business? Well, that’s what I’m going to cover in this video….I’ll answer questions like: ☑️ What exactly is an S Corp? ☑️ Why do business owners choose to have their LLC or Corporation taxed as an S Corporation? ☑️ How much money in taxes does an S Corporation save you? ☑️ Four reasons your business should NOT be taxed as an S Corp. 📁 Setup your LLC or Corporation 📁 FileYourBusiness.com: https://www.fileyourbusiness.com/ Inc Authority: http://bit.ly/incauthoritycoupon IncFile: http://bit.ly/incfilecoupon ZenBusiness: http://bit.ly/zenbusinesscoupon Northwest Registered Agent: http://bit.ly/northwestregisteredagentcoupon BetterLegal: http://bit.ly/betterlegalcoupon 🔗 Links to Videos Mentioned 🔗 🎥 Overview: When NOT to have your LLC taxed as an S Corp https://youtu.be/EE3Oe1H2iyE 🎥 When does an S Corp make financial sense? https://youtu.be/QFYFGfHOuwI 🎥 W-2 Job & Small Business: Does S Corp still work? https://youtu.be/1kufkdonBEU 🎥 Does your City/State Tax S Corps? https://youtu.be/f89yMwDzzTU 🎥 Why passive rental property income should not be in an S Corp? https://youtu.be/kg2t2Y-xdmc 📋 Join My Course Waitlist 📋 https://navimarajcpa.com/learn/ ⏱ Timestamps ⏱ 00:00 Topic - What is an S Corp and is it right for YOUR business? 01:17 What is an S Corp - it is a tax classification, not a legal entity 02:00 Different Legal Entity Types 02:35 Different Tax Classifications 03:27 Default Tax Classifications for different legal entity types 04:42 Tax Elections you can make for your legal entity type 05:35 Why do business owners make the S Corp tax election? 07:55 Sole Prop vs S Corp Tax Savings Calculation 10:24: S Corp saves $9,000 in taxes! 11:25: FileYourBusiness.com: Learn and Form an LLC or Corporation 12:15: Inc Authority offers free business formations 13:45: 4 Reasons why your business should NOT bet taxed as an S Corp 18:11: Sign up for course waitlist to learn and implement power tax strategies If you learned something from this video, please like and subscribe and follow me on my various social media handles below. If you would like to contact me with a specific question, please visit my website or leave me a comment. Website: https://www.navimarajcpa.com Email: navi@navimarajcpa.com Instagram: https://www.instagram.com/navimarajcpa/ LinkedIn: https://www.linkedin.com/in/navimarajcpa/ Twitter: https://twitter.com/NaviMarajCPA Facebook: https://www.facebook.com/Navi-Maraj-CPA-PLLC-107003020774608/ 🎬 My Video & Audio Gear List 🎬 Sony ZV-1: https://amzn.to/3i7SYcm SanDisk 128GB Extreme PRO SDXC: https://amzn.to/3c6fvm6 SanDisk 256GB Extreme PRO SDXC: https://amzn.to/3wORFTs Elgato Cam Link 4k: https://amzn.to/3p8EKJq Amazon Basics Flexible and Durable Micro HDMI to HDMI Cable: https://amzn.to/3yP4dfF Anker 4-Port USB 3.0 Hub: https://amzn.to/3yTjKev Rode VideoMicro Compact On-Camera Microphone with Rycote Lyre Shock Mount: https://amzn.to/2Tn0iX0 Gonine DK-X1 DC Coupler AC-LS5 AC Power Adapter Kit Replacement for NP-BX1 Dummy Battery: https://amzn.to/3vEbZHf SMALLRIG Cool Ballhead Arm Super Clamp: https://amzn.to/2R99jCt SMALLRIG Camera Cage for Sony ZV1 Camera: https://amzn.to/3uASs9m Camtasia screen capture and video editing software: https://www.techsmith.com/video-editor.html This video was created for informational purposes and it is not to be construed as legal and tax advice specific to your unique situation. © Navi Maraj CPA PLLC. All rights reserved. #WhySCorp #WhatIsAnSCorp #LLC