The Number 1 Tax Strategy for the Small Business Owner: Setting up an S Corporation step by step 1 Credit
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Choosing a business structure requires a calculus that weighs tax and legal benefits with startup costs and time. It’s one of the most consequential decisions you’ll make when you first start your small business.
Many small business owners hesitate to elect S corporation taxation because it requires more upfront time to get going. But don’t demur S Corp tax status: There are some great tax benefits you could be missing.
Don’t let the word “corporation” confuse you. S corporations don’t pay corporate income tax. Instead, S corporations enjoy pass-through taxation in which the company’s owners pay taxes on their portion of the company’s earnings based on their tax rates.
Small businesses with high profitability lose huge amounts of money in paying taxes. However, they can save it by applying a very effective strategy. They can incorporate their entity retroactively for the previous years. This may provide numerous benefits.
This Online CPE Tax Webinar covers the following Key Topics:
This unique value webinar provides you an opportunity to benefit your clients by setting up an entity without any hassles and generating new income streams.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00357-20-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0360) | 1 CE | Approved |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00357-20-S) | 1 CE | Approved |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00357-20-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01723-23-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0360) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01723-23-O) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01723-23-O) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01723-23-O) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
Credit
1
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
As a public speaker, author, and a successful entrepreneur, Jake Hanes delivers high energy messages that motivate people to take action in life and build highly successful businesses. As an entrepreneur, Jake has been coaching business owners for more than 20 years in every facet of growing their business. He has succeeded, as well as failed, in business, and shares the experiences, concepts and tools audiences can use to take a five year leap in business success. In his Amazon #1 Bestseller book, “The Seven Strategies of Highly Successful Business Owners,” he shares these concepts and many more.
Jake lived the first 40 years of life with epilepsy, having many thousands of seizures, and amid all the inherent challenges, he reached great heights, including summiting the five highest peaks in Washington and building several successful businesses. Now cured of epilepsy, he continues to succeed by goal setting and achieving every day, and he brings his challenging experiences to life in educating and entertaining audiences of all sizes.
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How do I earn CPE credits through self-study?
To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.
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To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.
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How do I earn credits through live webinars?
To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Are the live webinars approved by NASBA and other regulatory bodies?
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
What are the requirements to maintain compliance with live webinar courses?
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
How can I access my webinar completion certificates?
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
VI
While author's position with respect to responsible compensation set as 1/3 with cap on 60K is not based on any IRS provisions, I like this approach. Nevertheless, I am afraid the IRS will not agree with the idea of a "Cap" on $60k...
SJ
The instructor was very knowledgeable and generous with his knowledge. He broke complex material down into very easy to understand language. I would be interested in learning more from him.
.webp "Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)")
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