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When Does an S Corporation Make Financial Sense? | Sole Proprietorship vs. S Corporation

When does it make financial sense to have your LLC or Corporation make the S Corp election? Specifically, I discuss: 1. What taxes does a business owner have to pay? 2. How does an S Corporation save money in self-employment taxes? 3. What are the costs associated with having an S Corporation? 4. What is the amount of profit you should make before making the S Corp election? Take what you learn from this video and ask your legal or tax professional all of your specific questions. If you want to contact me, my information is below. If you learned something from this video, please like and subscribe and follow me on my various social media handles below. If you would like to contact me with a specific question, please visit my website or leave me a comment. Website: https://www.navimarajcpa.com Email: [email protected] Phone: (561) 318-0232 Instagram:   / navimarajcpa   LinkedIn:   / navimarajcpa   Twitter:   / navimarajcpa   Facebook:   / navi-maraj-cpa-pllc-107003020774608   This video was created for informational purposes and it is not to be construed as legal and tax advice specific to your unique situation. © Navi Maraj CPA PLLC. All rights reserved. #LLC #SCorp #Taxes