Ladies, I'm going to share this with a few of my client's. I am a CPA "Inactive" - Enrolled Agent and I tell all my clients exactly what you are saying. They hear "I should be and S-Corp," but they do not know why. I give them the same talk you shared with this video. Let's assess what's up, and then may a good decision. Yes, I can make more in billings, but that is not what drives me in making clients make the right decision. Great Job!!!
Hannah, another great topic that needs to be discussed. So, Jamie, how much of the motivation of your practice moving into the category of education v. consulting was attributed to QBID and grant funding eligibility? This assumes that you are not operating as a nonprofit.
Not sure if Jamie will be popping into the comment section here, but I know Jamie is not a non-profit. Pretty sure her move into education has nothing to do with the things you mentioned, but I won't try to speak for her. Thanks for watching!
You can consider changing the name of your business or just using a "DBA" instead. I think it's not something you NEED a lawyer for, but if you wanted to go that route you can. You will need to change your legal registrations (i.e. state secretary of state) and also make sure you update it with the IRS too. It takes administrative work to change the name of a business. It's not hard per se, but definitely time consuming.
So basically don't make any decisions until you have an overpaid accountant make them for you. That is still wasting money. What a waste of 30 minutes.
Ladies, I'm going to share this with a few of my client's. I am a CPA "Inactive" - Enrolled Agent and I tell all my clients exactly what you are saying. They hear "I should be and S-Corp," but they do not know why. I give them the same talk you shared with this video. Let's assess what's up, and then may a good decision. Yes, I can make more in billings, but that is not what drives me in making clients make the right decision. Great Job!!!
Thanks Charles! Feel free to share!
Thank you for taking the time to provide more in-depth information on this topic. 😍
Thanks for watching!
That was so good. Thank You your the Best. Have A BLESSED DAY
Thanks Alonzo!
Great information thank you Hannah
You're so welcome! Thanks for watching!
Hannah, another great topic that needs to be discussed. So, Jamie, how much of the motivation of your practice moving into the category of education v. consulting was attributed to QBID and grant funding eligibility? This assumes that you are not operating as a nonprofit.
Not sure if Jamie will be popping into the comment section here, but I know Jamie is not a non-profit. Pretty sure her move into education has nothing to do with the things you mentioned, but I won't try to speak for her. Thanks for watching!
If im an llc sole proprietor, can i still cut myself regular paycheck (w2) i already have payroll expense.
If you're an S-corp how big of a deal is it to change the legal name of your business? Is it something that's best to have an attorney take care of?
You can consider changing the name of your business or just using a "DBA" instead. I think it's not something you NEED a lawyer for, but if you wanted to go that route you can. You will need to change your legal registrations (i.e. state secretary of state) and also make sure you update it with the IRS too. It takes administrative work to change the name of a business. It's not hard per se, but definitely time consuming.
So basically don't make any decisions until you have an overpaid accountant make them for you. That is still wasting money. What a waste of 30 minutes.
A good accountant will always have a long term positive ROI. But you are free to make your own decisions as you wish!