Sharon, I've heard some entrepreneurs talk about using IRS Section 1202 Qualified Small Business Stock (QSBS) to avoid capital gains on some C Corp stock sales. What are your thoughts regarding these and how would it compare to an S Corp strategy? It seems like a C Corp would have the double taxes issue and would cost more along the way. I know you would have be in a qualifying business category for the QSBS to make sense. Thanks for another great video! Love your content!
Thanks Steve! I would recommend checking out this video ruclips.net/video/KqEHW5Wcyow/видео.html. It is very rare in practice that business owners can actually take advantage of 1202 QSBS. I cover why that is the case in that video towards the end. Hope this helps!
Thank you for this information. I have one question. If I file for a late s corp election for 2023, do I need to wait until IRS approval to work on payroll or do I start with payroll right away? Thank you!
I would go ahead and set up payroll. I've never seen the IRS not approve an S Corp late election if filed correctly. You should be safe to assume they will approve it unless you hear otherwise.
Tax Deduction for Hiring Your Children ▶ ruclips.net/video/LcQnDMyMzZQ/видео.html
Sharon, I've heard some entrepreneurs talk about using IRS Section 1202 Qualified Small Business Stock (QSBS) to avoid capital gains on some C Corp stock sales. What are your thoughts regarding these and how would it compare to an S Corp strategy? It seems like a C Corp would have the double taxes issue and would cost more along the way. I know you would have be in a qualifying business category for the QSBS to make sense. Thanks for another great video! Love your content!
Thanks Steve! I would recommend checking out this video ruclips.net/video/KqEHW5Wcyow/видео.html. It is very rare in practice that business owners can actually take advantage of 1202 QSBS. I cover why that is the case in that video towards the end. Hope this helps!
Thank you for this information.
I have one question. If I file for a late s corp election for 2023, do I need to wait until IRS approval to work on payroll or do I start with payroll right away? Thank you!
I would go ahead and set up payroll. I've never seen the IRS not approve an S Corp late election if filed correctly. You should be safe to assume they will approve it unless you hear otherwise.
@@sharonwinsmith thank you so much for your quick response. I'll set it up then. I really appreciate your help.