How do you pay yourself in an S-Corporation? Become a Tax Client: https://mycpacoach.com/tax-planning-services/ According to the IRS, you need to pay yourself a reasonable salary. But what in the world is a reasonable salary? Subscribe: https://bit.ly/2HJlq46 And shouldn’t you want to pay yourself the highest salary possible? Like why is this a thing? Well it’s a thing because by paying yourself a very low salary in a S-Corporation, you are effectively lowering the amount of taxes you pay. And then, on the backend, you can pay yourself with a distribution and not pay self-employment taxes because s-corporations don’t have to pay them anyway. So stay tuned for this full video to learn the rules & stipulations regarding how to pay yourself in an S-Corporation. Outline: Intro: (0:00) What is a S-Corporation?: (1:40) Why elect S-Corp Status?: (2:15) How to Pay Yourself in an S-Corp: (3:10) What is REASONABLE COMPENSATION?: (5:06) Watch this next: You're an S-Corp, Now What? https://youtu.be/Cpx0tbOeboI Resources: How to Pay Yourself as a LLC: https://www.youtube.com/watch?v=68psVSeJQNw LLC vs. S-Corp: https://www.youtube.com/watch?v=AbrweR6hm80&t= Interested in talking with someone from our team? Sign up to get notified when we are accepting new clients here: https://lyfeaccounting.com/coming-soon/