5 Things to Know BEFORE Starting an S-Corporation in 2025

Start your S-Corporation with Northwest for just $39 (exclusive deal):
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In today's video, we'll cover 5 things you NEED to know before starting an S-Corporation. To easily create your S-Corporation, I highly recommend using an online service like Northwest Registered Agent, which will do everything for you and make sure you're fully compliant with the state in just a few minutes.

Get a reasonable compensation report for your S Corp from RCReports:
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Be sure to watch the entire video because I'll go over 5 crucial steps you absolutely need to know about before setting up an S-Corporation. S-corporations can be very beneficial for saving you thousands of dollars every year in taxes. While they can be complex to form and maintain, online services like Northwest Registered Agent simplify this process for total beginners which is why we can't recommend them enough.

If you want to learn more about business formation and S-Corporations, be sure to check out my other videos:

Business Formation Playlist:
https://www.youtube.com/watch?v=WOHSLiMqgio&list=PL45E5gftKTMXslt5vPETcwXC83twt2Sz4

How Much Does it Cost to Start an S Corp? (Explained):
https://www.youtube.com/watch?v=9WCtIuhGqpw

How to Elect Your LLC To Be Taxed As an S Corporation (Fast):
https://www.youtube.com/watch?v=yPujEa46xAc

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I hope you have a wonderful day!

-Charlie

#SCorp #LLC #Business

Timeline:
0:00 - Intro
1:05 - What S-corps Actually Are
2:10 - Your Business Is Eligible For S-corp
2:54 - Tax Saving When Elected As An S-corp
4:20 - Double Taxation
5:02 - S-corps Are Harder To Run And Maintain
5:27 - Compensation Requirements
6:29 - Cons
6:51 - Conclusion

Disclaimer: Some of the links above may be affiliate links, which means that if you click on them, I may receive a small commission. The commission is paid by the retailers at no cost to you, and this helps to support our channel and keep our videos free. Thank you! All info from our videos is compiled from online sources and our own experience, and we encourage you to do your own due diligence. We appreciate your viewership!

In addition, we are not a financial advisor. StartupWise does not provide tax, legal, or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.

Тэги:

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