Taxpayer's Comprehensive Guide to LLCs and S Corps
How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of KnowledgeBase articles on the Watson CPA Group website. The articles touched on basic topics such as how to elect S Corp status, payroll, reasonable salary determination, retirement planning, health care, fringe benefits and liability protection.

Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. The articles were grouped and relabeled as the Taxpayer�s Comprehensive Guide to LLCs and S Corps which grew to 39 pages in its first edition.

Time marched on, and more information was added to the first edition such as expanded retirement planning concerns, health care options after the Affordable Care Act and business valuations including exit strategies. Boom, we now had our second edition at over 100 pages. At that point it was suggested by some clients and colleagues to convert the PDF into an eBook as well as paperback. So here we are..

Each week we receive several phone calls and emails from small business owners across the country who have read our Taxpayer�s Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you.

This book will show you how to reduce your self-employment taxes through an S Corporation election and how to use your corporation to your retirement and fringe benefit advantage. You will also learn the operational considerations of an S Corp plus the 185 reasons you should NOT elect S Corp status. Want to buy or sell a business? That�s in here too.

This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of precision of the words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.
1120344508
Taxpayer's Comprehensive Guide to LLCs and S Corps
How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of KnowledgeBase articles on the Watson CPA Group website. The articles touched on basic topics such as how to elect S Corp status, payroll, reasonable salary determination, retirement planning, health care, fringe benefits and liability protection.

Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. The articles were grouped and relabeled as the Taxpayer�s Comprehensive Guide to LLCs and S Corps which grew to 39 pages in its first edition.

Time marched on, and more information was added to the first edition such as expanded retirement planning concerns, health care options after the Affordable Care Act and business valuations including exit strategies. Boom, we now had our second edition at over 100 pages. At that point it was suggested by some clients and colleagues to convert the PDF into an eBook as well as paperback. So here we are..

Each week we receive several phone calls and emails from small business owners across the country who have read our Taxpayer�s Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you.

This book will show you how to reduce your self-employment taxes through an S Corporation election and how to use your corporation to your retirement and fringe benefit advantage. You will also learn the operational considerations of an S Corp plus the 185 reasons you should NOT elect S Corp status. Want to buy or sell a business? That�s in here too.

This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of precision of the words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.
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Taxpayer's Comprehensive Guide to LLCs and S Corps

Taxpayer's Comprehensive Guide to LLCs and S Corps

by Jason Watson
Taxpayer's Comprehensive Guide to LLCs and S Corps

Taxpayer's Comprehensive Guide to LLCs and S Corps

by Jason Watson

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Overview

How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of KnowledgeBase articles on the Watson CPA Group website. The articles touched on basic topics such as how to elect S Corp status, payroll, reasonable salary determination, retirement planning, health care, fringe benefits and liability protection.

Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. The articles were grouped and relabeled as the Taxpayer�s Comprehensive Guide to LLCs and S Corps which grew to 39 pages in its first edition.

Time marched on, and more information was added to the first edition such as expanded retirement planning concerns, health care options after the Affordable Care Act and business valuations including exit strategies. Boom, we now had our second edition at over 100 pages. At that point it was suggested by some clients and colleagues to convert the PDF into an eBook as well as paperback. So here we are..

Each week we receive several phone calls and emails from small business owners across the country who have read our Taxpayer�s Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you.

This book will show you how to reduce your self-employment taxes through an S Corporation election and how to use your corporation to your retirement and fringe benefit advantage. You will also learn the operational considerations of an S Corp plus the 185 reasons you should NOT elect S Corp status. Want to buy or sell a business? That�s in here too.

This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of precision of the words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.

Product Details

BN ID: 2940150401815
Publisher: Watson CPA Group
Publication date: 09/13/2014
Sold by: Barnes & Noble
Format: eBook
Pages: 138
File size: 339 KB

About the Author

Jason Watson is the Managing Partner for the Watson CPA Group, a Colorado Springs tax, accounting and consultation firm. In addition, he is in charge of Business Development.

Jason has owned two small businesses in the past and holds both a Bachelor�s and Master�s in Business Administration from the University of Wisconsin � Madison. He also became an Enrolled Agent with the IRS in 2013. Note, he is a not a CPA. During college he migrated towards finance, economics and statistics, and not towards accounting. Jason also enjoyed small business development classes.

His desire is speaking with small business owners and creating a map for the future. Jason enjoys talking about business planning, corporate structures, self-employment taxes, health insurance issues and retirement planning. He is quick to point out that while some basics cover all situations, every business is truly unique.

Ask a question and have a dry erase board handy, and you�ll see the true passion of a person who not only wants to educate but also wants to see small business owners thrive. Yes, this book is on LLCs and S Corporations can be labeled as shameless self-promotion, but at the same time it truly came from the Jason�s heart to help small business owners everywhere.

While not speaking to a group of business owners or reading the latest IRS Publication, Jason likes dirt biking, boating in Wisconsin, watching the Packers beat the Bears, running trails in Colorado and flying airplanes into Aspen for SkyWest Airlines and their United Express contingent based in Denver.

He is also a father of three and married to the Watson CPA Group�s founder and Senior Partner, Tina Watson CPA.
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