Training Series: Maximizing Tax Benefits with S-Corps

This workshop offers practical insights and actionable strategies to maximize your tax benefits with S-Corporations (S-Corps). Whether you’re a sole proprietor, freelancer or small business owner, this workshop is designed to empower you with the knowledge and tools to optimize your tax strategy and drive financial success.

Don’t miss this opportunity to gain a competitive edge and unlock the full potential of S-Corps. Join us for the Maximizing Tax Benefits with S-Corps workshop and take control of your business’s financial future.

Learning Objectives

• To understand what an S-Corp is and its tax benefits
• To learn how an S-Corp can save on Self-Employment Tax by adding yourself (the owner) to payroll and setting up a 401(k)-retirement plan
• To know the proper steps and form to file to elect S-Corp tax status

In this workshop, we will dive deep into the world of S-Corps, focusing on three key learning goals. First, we will demystify the concept of S-Corps and explore their tax benefits. You will gain a comprehensive understanding of how S-Corps differ from other business structures and how they can help you minimize your tax liability.

Next, we will delve into the powerful strategy of saving on Self-Employment Tax through payroll and retirement planning. You will learn how to add yourself, as the owner, to the payroll of your S-Corp, thereby reducing the amount subject to self-employment tax. Additionally, we will explore the establishment of a 401(k)-retirement plan and how it can further enhance your tax savings while securing your financial future.

Finally, we will equip you with the knowledge of the proper steps and forms needed to elect S-Corp tax status. Navigating the filing process can be overwhelming, but we will guide you through the essential procedures, ensuring you have the tools to successfully elect S-Corp tax status for your business.

This workshop is made possible with support from Ally, Bank of America, New Economy Initiative, Ralph C. Wilson, Jr. Foundation and Verizon.