My client saved $6000 just by doing this
The type of legal entity your business is can have a dramatic effect on your money. Different legal entity structures have different rules regarding deductions and self-employment taxes.
Tax Strategy implemented: Schedule C to S-Corp
As a sole-proprietor operating with an LLC we elected to be treated as an S-corporation for tax purposes. By moving operations off of the individual’s tax return to an S-Corp we were able to significantly reduce the self employment tax.
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