Free Continuing Education for Small Business
Below is a transcript of the webcast "LLC & S Corps Explained: Using them to Reduce Taxes"
If this info is of interest to you, you may also be interested in the free small business tax guide.
Anyway, here we go with the transcript now...
This presentation will be on entity selection, and in particular the tax advantage of whatever type of entity you want to use for your business. What we're going to do today is we're going to go through a similar set of examples, with each different type of entity. So, we're going to make the same assumptions on all of them.
Those assumptions are that this business has $100,000 of net income. We have a new person coming in for the live webcast. Eric, have a seat. We'll go through and look at all these examples, again, making the same
assumption, $100,000 of net business income. We're going to assume that the owner is in a 35% tax bracket, but doesn't have any other self employment or earned income.