In this episode, Scott and Nikole dive into tax planning strategies specifically for pass-through entities like S corps and partnerships and how tax planning can impact your cash flow. They also explore retirement planning, the Qualified Business Income Deduction (QBI), and optimizing your salary distributions to save on self-employment taxes. Tune in for a wealth of information geared towards small business owners looking to maximize their tax strategies and profitability.

Chapters:

00:00 Introduction

01:10 Overview

02:16 Understanding Pass-Through Entities

05:46 Tax Implications for S Corps vs. Partnerships

17:07 Retirement Planning

22:01 Section 199A Deduction

24:21 Conclusion

⬇️Videos Referenced⬇️

Episode 3 - Paying Yourself (as an S-Corp Owner)

(https://youtu.be/bXU9L98sffE)

🔗 Connect With Us On Linkedin! 🔗

Nikole Mackenzie

📎 https://www.linkedin.com/in/nikolemackenzie/

Momentum Accounting

📎 https://momentumaccounting.com/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Padgett NC

📎 https://www.padgettnc.com

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags:

#TaxPlanning #PassThroughEntities #SmallBusiness #PayrollBestPractices #FinancialForecasting #BusinessTaxes #SCorp, #Partnerships #TaxStrategies #RetirementPlanning #QBI #Section199A #BusinessOwner #TaxAccountant #FinancialManagement #SmallBusinessAdvice #CashFlowManagement, #TaxSavings #BusinessTaxCompliance #FinancialTips