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S-Corporation Reality Check

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Manage episode 485496801 series 3659469
Content provided by Earmark Media, Jeremy Wells, EA, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Earmark Media, Jeremy Wells, EA, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Jeremy dives deep into the critical red flags that should make tax professionals pump the brakes on S-corporation elections. From balance sheet debt ratios that could trigger unexpected taxable events to operating agreement provisions that can inadvertently terminate S-elections, this episode challenges the "default to S-corp" mentality that's become prevalent in tax advisory circles. Jeremy breaks down the specific scenarios where partnerships or sole proprietorships actually serve business owners better than the often-hyped S-corporation structure.

Sponsors
SafeSend - taxshow.promo/safesend


Connect with Jeremy
https://www.linkedin.com/in/jwellstax
https://www.steadfastbookkeeping.com

Subscribe on YouTube
https://www.youtube.com/@TaxinAction

Earn CPE for Listening to This Podcast
https://www.earmark.app/

This podcast is a production of the Earmark Media

  continue reading

3 episodes

Artwork
iconShare
 
Manage episode 485496801 series 3659469
Content provided by Earmark Media, Jeremy Wells, EA, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Earmark Media, Jeremy Wells, EA, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Jeremy dives deep into the critical red flags that should make tax professionals pump the brakes on S-corporation elections. From balance sheet debt ratios that could trigger unexpected taxable events to operating agreement provisions that can inadvertently terminate S-elections, this episode challenges the "default to S-corp" mentality that's become prevalent in tax advisory circles. Jeremy breaks down the specific scenarios where partnerships or sole proprietorships actually serve business owners better than the often-hyped S-corporation structure.

Sponsors
SafeSend - taxshow.promo/safesend


Connect with Jeremy
https://www.linkedin.com/in/jwellstax
https://www.steadfastbookkeeping.com

Subscribe on YouTube
https://www.youtube.com/@TaxinAction

Earn CPE for Listening to This Podcast
https://www.earmark.app/

This podcast is a production of the Earmark Media

  continue reading

3 episodes

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