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:
|
Comprehensive cross-platform coverage of...
On today's episode of Bloomberg Business...
Parents have never spent more time and m...
On the early edition of Balance of Power...
A weekly, midday program that delivers h...
Ecuador’s President Daniel Noboa says he...
Minutes of the Federal Open Market Commi...
McDonald’s CEO Chris Kempczinski, whose ...
7110マーケットTODAYは毎週月・水・金曜日に内藤証券がお送りする マーケッ...
東京マーケットワイド 「本日のデリバティブ」のコーナーです。 本日の出演/みず...
東京マーケットワイド FXフォーカスのコーナーです。 本日の出演/外為どっとコ...
「東京マーケットワイド」 毎週水曜 午後2時00分から放送「投資信託のコーナー」...
「東京マーケットワイド」ゲストコーナー 本日の出演/日産証券インベストメント ...