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Content provided by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
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#527 Tax Advisors Playbook: Moving Your Client From An LLC To an S-Corp
Manage episode 439175443 series 1248143
Content provided by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
In this latest episode of the Main Street Business Podcast, Mark J. Kohler explores the benefits and processes involved in converting to an S Corporation. Learn how making the switch can save your clients money, the critical timelines for filing, and how the Kohler Payroll Matrix can guide setting reasonable compensation.
Here are some of the highlights:
- Mark recommends converting to S Corporations when net income reaches $40,000-$50,000.
- Mark advises and breaks down how to convert an LLC to S Corp using Forms 8832 and 2553.
- How tax professionals can present the S Corporation strategy as a new tax-saving opportunity to clients.
- The significance of implementing payroll before year-end for retroactive elections.
- How to use the Kohler Payroll Matrix as a tool for determining reasonable compensation.
- Using retroactive S election with Rev. Rule 2013-30 for mid-year conversions
- After-the-fact quarterly payroll recommended for flexibility.
- Grab my FREE Ultimate Tax Strategy Guide HERE!
- Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
- You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
- Looking to connect with a rock star law firm? KKOS is only a click away!
- Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
- Craving more content? Check out my Instagram!
Chapters
1. The S-Corporation Tax Strategy (00:00:00)
2. Optimizing S-Corporation Tax Strategy (00:10:11)
3. Optimizing S-Corporation Payroll Strategy (00:17:08)
688 episodes
Share
Manage episode 439175443 series 1248143
Content provided by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
In this latest episode of the Main Street Business Podcast, Mark J. Kohler explores the benefits and processes involved in converting to an S Corporation. Learn how making the switch can save your clients money, the critical timelines for filing, and how the Kohler Payroll Matrix can guide setting reasonable compensation.
Here are some of the highlights:
- Mark recommends converting to S Corporations when net income reaches $40,000-$50,000.
- Mark advises and breaks down how to convert an LLC to S Corp using Forms 8832 and 2553.
- How tax professionals can present the S Corporation strategy as a new tax-saving opportunity to clients.
- The significance of implementing payroll before year-end for retroactive elections.
- How to use the Kohler Payroll Matrix as a tool for determining reasonable compensation.
- Using retroactive S election with Rev. Rule 2013-30 for mid-year conversions
- After-the-fact quarterly payroll recommended for flexibility.
- Grab my FREE Ultimate Tax Strategy Guide HERE!
- Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
- You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
- Looking to connect with a rock star law firm? KKOS is only a click away!
- Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
- Craving more content? Check out my Instagram!
Chapters
1. The S-Corporation Tax Strategy (00:00:00)
2. Optimizing S-Corporation Tax Strategy (00:10:11)
3. Optimizing S-Corporation Payroll Strategy (00:17:08)
688 episodes
All episodes
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Similar to Main Street Business
Some Goodness is hosted by Richard Ellis, a seasoned sales leader passionate about inviting top business minds to share their wisdom. Each episode is only 15-20 minutes, perfect for your commute or workout.
…
continue reading
Custom Manufacturing Industry podcast is an entrepreneurship and motivational podcast on all platforms, hosted by Aaron Clippinger. Being CEO of multiple companies including the signage industry and the software industry, Aaron has over 20 years of consulting and business management. His software has grown internationally and with over a billion dollars annually going through the software. Using his Accounting degree, Aaron will be talking about his organizational ways to get things done. Hi ...
…
continue reading
Call them changemakers. Call them rule breakers. We call them Redefiners. And in this provocative podcast, we explore how daring leaders from across industries and around the globe are redefining their organizations—and themselves—to create extraordinary impact in today’s rapidly changing world. In each episode, Russell Reynolds Associates Leadership Advisor Hoda Tahoun and former CEO Clarke Murphy host engaging, purposeful conversations with leaders in and out of the business world who shar ...
…
continue reading
Positive Leadership has the power to change the world. By focusing on trust, empathy, authenticity and deep collaboration, leaders can energize their teams to achieve success for individuals, their organizations, and society as a whole. Yet, it remains relatively unknown outside positive psychology and neuroscience circles. Join Jean-Philippe Courtois, former member of the Microsoft senior leadership team alongside Satya Nadella and co-founder of Live for Good, as he brings Positive Leadersh ...
…
continue reading
The Craig Groeschel Leadership Podcast offers personal, practical coaching lessons that take the mystery out of leadership. In each episode of the Craig Groeschel Leadership Podcast, Craig brings you empowering insights and easy-to-understand takeaways you can use to lead yourself and lead your team. You’ll learn effective ways to grow as a leader, optimize your time, develop your team, and structure your organization.
…
continue reading
The Partnership Economy explores the power of partnerships through candid conversations and stories with industry leaders. Our hosts, David A. Yovanno, CEO and Todd Crawford, Co-founder, of impact.com, unpack the future of partnerships as a lever for scale and an opportunity to put the consumer first.
…
continue reading
Interesting stories from today’s franchisors and entrepreneurs.
…
continue reading
Welcome to the What’s Next! Podcast. I’ve met so many brilliant people as I traveled the globe and have had some fascinating conversations that I’ve wished had been recorded so I could share them with you - this podcast was a way for me to recreate those moments and let you in on some fantastic insights. My current conversations center around one objective: what's next for companies and individuals as they look to innovate and grow. I hope these conversations inspire you as much as they have ...
…
continue reading
Wharton faculty and industry leaders discuss their latest research, books, and relevant business topics. Hosted on Acast. See acast.com/privacy for more information.
…
continue reading
Kipp Bodnar (HubSpot’s CMO) and Kieran Flanagan (Zapier’s CMO), lead you down the rabbit hole of marketing trends, growth tactics and innovation. On the way you’ll pick up undiscovered strategies to give you that slight edge for success. These are not your typical twitter thread regurgitated marketing tactics that everyone is doing. These are new methods, with unfiltered examination of successful fresh ideas.
…
continue reading
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Go offline with the Player FM app!
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