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Main Street Business

#459 The Real Benefits of S-Corps

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4584 Ratings

🗓️ 24 October 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

Hit your settings and auto download our podcast! In this episode of the Main Street Business podcast, host Mark J Kohler delves deep into the nitty-gritty of S Corporations, LLCs, and the concept of the Trifecta in business. Here are some of the significant points discussed: An extensive walkthrough of S Corporations, the misinformation surrounding them, and why they're valuable for business owners.The comparison between an LLC and an S CorporationAn in-depth explanation of the Trifecta, and ...

Transcript

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0:00.0

Business owners, I am so excited to talk to you about the S-corporation. There is so much misinformation out there on when, how, what the savings are. What about an LLC versus an S-Corp? We're going to break it down right here. This is going to be your money video where you're going to be able to better succeed and excel as a business owner with the right information. Now, I want you to be confident with what you're

0:21.3

about to hear. I'm a CPA, an attorney, bestselling author, radio show host, podcaster, YouTuber.

0:28.8

There is no one else in the country with my credentials that has more followers, more downloads,

0:33.5

and more videos, blogs, and articles on this topic. I'm a member of the AI CPA.

0:38.0

I'm licensed in five different states, lawyer or accountant.

0:41.7

We've got a team of 150 plus employees helping clients around the country.

0:45.3

We are legit.

0:46.4

I want you to know you can believe in this.

0:48.6

And I stand behind it.

0:50.4

And I train other CPAs and accounts around the country enrolled agents

0:53.8

with a certified advisor

0:55.1

program backing up hundreds and thousands of business owners every year on this topic.

1:00.7

So take out a piece of paper and write this down.

1:02.7

Where I want to start is we're going to have a picture.

1:06.1

We want to make sure this makes sense.

1:08.3

And so what I've been coined with talking about for years is the trifecta.

1:13.8

And let me tell you how the trifecta works because that's going to help to answer so many of your

1:18.2

questions regarding the S corporation and when it's right for you. The trifecta starts with a foundation.

1:25.0

It all begins with the trifecta. This is what I've been teaching for probably

1:29.2

10 plus years now around the country, and it makes so much sense for my clients that are worth

1:34.1

millions and for my brand new business owners, young or old, male or female, large or small,

1:39.0

this is the foundation that's going to help you build your business, build your wealth,

...

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