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Grab your copy of the S-Corp Toolkit here: www.claracfo.com/scorp A lot of business owners and even CPAs will tell you that the best way to save money on taxes is to become an S-Corporation (or to elect being taxed as an S-Corp). But is that really true? We want you to understand what you are getting yourself into with an S-Corp decision. In this video, Hannah discusses the S-Corp decision making process with fellow CPA and Youtuber, Jamie Trull. 1:00 Introducing Jamie Trull 2:40 S-Corporations - what's the big deal? 4:46 Easy button for tax savings? 7:00 CPA firm incentive 14:00 Upsides of an S-Corp 16:40 Downsides of an S-Corp 20:00 S-Corp Toolkit 26:30 Reasonable Compensation Remember that you can grab your toolkit AND a reasonable compensation report through the link www.claracfo.com/scorp ________________________________________________________________________ 💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! https://claracfo.com/QBO 🙋♀Got Employees? Talk to ADP! They can help you if you are a small business owner or an accountant or advisor who works with small businesses. Learn more here: https://claracfo.com/adprun 💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! https://claracfo.com/melio (As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases) Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/ Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience. CODE: ILIYSP7K7EYAUZB9, 8NZTYIFZF25SRFF7