Taxes may be an even bigger hurdle for Americans who run a small business. What should small business owners keep in mind when tackling their tax filings?
KKOS Lawyers Founding and Senior Partner Mark Kohler joins Brad Smith on Yahoo Finance's Wealth! to lay out the top tax strategies for small businesses.
"You could have an LLC taxed as an S corporation. But when business owners start to get around $60,000 in net income, so gross minus all my expenses... I need to be looking at converting to the S corporation," Kohler lays out. "Very affordable to do, very simple to maintain. But what you're doing is saving on the number one tax before state and fed [federal], And that's FICA [Federal Insurance Contributions Act]. We want to save on self-employment tax."
#news #youtube #taxes
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple ( or Android (
- Follow Yahoo Finance on social:
X:
Instagram:
TikTok:
Facebook:
LinkedIn:
|
If time in the market is an investor's b...
The DJI Osmo Pocket 4 is out now...just ...
Hugh Jackman, Chris O'Dowd, and Nicholas...
✅画面に表示される株価・指数などの数値は【2026年4月16日放送時点】のもので...
The global semiconductor industry powers...
FOX Business host Larry Kudlow discusses...
'The Big Money Show' panelists discuss t...
"There's a lot of attractive opportunity...
Sen. Dave McCormick, R-Pa., gives his ou...
SVP founder and CIO Victor Khosla says t...
Rapper and Producer will.i.am discusses ...
IBM CEO Arvind Krishna assesses governme...