Becoming an s-corp is definitely not a great idea as a year end tax planning strategy for a number of reasons. But it could be a good thing to talk to you CPA about for the next year. Any pre-tax retirement contribution could be a good idea if you have the excess cash! But just be confident about your cash flow and make sure you understand the deadlines.
Did a job in December the owner paid me on the 3rd of January with a check he wrote in December and also send me a 10-99 for last year including the check he paid in January in it .did he make a mistake in his 10-99?
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Hello, Excellent tips to think about at year-end. What do you think about becoming an S-corp and contributing to a SEP plan?
Becoming an s-corp is definitely not a great idea as a year end tax planning strategy for a number of reasons. But it could be a good thing to talk to you CPA about for the next year. Any pre-tax retirement contribution could be a good idea if you have the excess cash! But just be confident about your cash flow and make sure you understand the deadlines.
Did a job in December the owner paid me on the 3rd of January with a check he wrote in December and also send me a 10-99 for last year including the check he paid in January in it .did he make a mistake in his 10-99?
Great content, thanks!
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