Is there a benefit of the S-corp deducting the cost of reimbursing personal expenses vs. the S-corp making the purchases and simply deducting those expenses?
Just found the channel, it's really helping me. I've been in the process of moving abroad....but it's kinda/sorta looking like whatever tax structure exist in the other country, it's almost irrelevant since we're bond by the US tax structure-and end up using some combo of the FTC or FEIE. And if they have a treaty AND totalization. So I've had to really dig into information like this to try to come up with a plan country A, lower taxes than US country B, higher taxes than US incorporate in the US, THEN leave But congrats on building your knowledge and business, and then choosing to provide these essentials. BUT I GOTTA GET OUT OF THIS GHETTO! Which, to me, is the whole country at this point that works better as a sort of toolbox than a place to live in peace.
Strategy 5 is misleading...fringe benefits are generally excluded from the income of other employees but are taxable to 2% or greater S corporation shareholders
Im a 1099 worker. This is so valuable to me
This was beyond helpful! Thank you for your time and effort into this content!!
Is there a benefit of the S-corp deducting the cost of reimbursing personal expenses vs. the S-corp making the purchases and simply deducting those expenses?
Just found the channel, it's really helping me. I've been in the process of moving abroad....but it's kinda/sorta looking like whatever tax structure exist in the other country, it's almost irrelevant since we're bond by the US tax structure-and end up using some combo of the FTC or FEIE. And if they have a treaty AND totalization. So I've had to really dig into information like this to try to come up with a plan
country A, lower taxes than US
country B, higher taxes than US
incorporate in the US, THEN leave
But congrats on building your knowledge and business, and then choosing to provide these essentials.
BUT I GOTTA GET OUT OF THIS GHETTO! Which, to me, is the whole country at this point that works better as a sort of toolbox than a place to live in peace.
What about health insurance.
Strategy 5 is misleading...fringe benefits are generally excluded from the income of other employees but are taxable to 2% or greater S corporation shareholders
Not all of them are taxable to 2% or greater shareholders.
Ill got that to llc s corp to yea ill taking advantage forreal 💯❤️🔥☝🏾🤟🏼🙏🏽🫡🙌🏼