Taxes and small business: Why finding an adviser is key to helping you maximize your tax strategies

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Taxes and small business: Why finding an adviser is key to helping you maximize your tax strategies 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:
  2024/06/08      youtube

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