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Converting your LLC to an S-corp isn't one decision. It's 12 separate things you now have to set up, correctly, before the tax savings mean anything. Here's the full list, so nothing catches you off guard:
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Ryan Greiser, CFP®
11.2K posts
Ryan Greiser, CFP®
@Greiser
Helping Millennials cut taxes, boost income, and build wealth • @InvestmentNews Best Wealth Managers Under 40 • @Investopedia Top 100 FA • Tweets ≠ Advice
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Converting your LLC to an S-corp isn't one decision. It's 12 separate things you now have to set up, correctly, before the tax savings mean anything. Here's the full list, so nothing catches you off guard:
↓
English
If you want more thoughts like this:
1. Follow me @Greiser for more
2. RT the tweet below
Disclaimer: This is my personal opinion and experience working with high-income millennials. Not tax, financial, or legal advice. Always work with qualified professionals to understand your specific situation.
Ryan Greiser, CFP®@Greiser
Converting your LLC to an S-corp isn't one decision. It's 12 separate things you now have to set up, correctly, before the tax savings mean anything. Here's the full list, so nothing catches you off guard: ↓
English
TL;DR — The 12-Item S-Corp Setup Checklist
• File Form 2553 first
• Separate bank + credit card
• Real bookkeeping software
• Payroll service, not manual
• Document a real salary
• New return: Form 1120-S
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Most people think delaying a big experience costs nothing. The money just sits there, still available later.
It doesn't work that way.
The older you get, the more it costs to get the same experience back:
• Energy
• Health
• The people you'd have shared it with
Waiting has its own cost and it only goes up the older you get.
English
If you want more thoughts like this:
1. Follow me @Greiser for more
2. RT the tweet below
Disclaimer: This is my personal opinion and experience working with high-income millennials. Not tax, financial, or legal advice. Always work with qualified professionals to understand your specific situation.
Ryan Greiser, CFP®@Greiser
BlackRock just published their July Student of the Market report. I read it every month before client portfolio reviews. This month, 7 charts tell one story about your money: ↓
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TL;DR — You don't need to capture everything to win
• Best quarter since 2020
• New leaders: not the Mag 7
• Top 10 = 36% of the S&P 500
• AI run is half the dot-com bubble
• Bonds are working again
• 85% capture beat 100% since 1926
English
BlackRock just published their July Student of the Market report.
I read it every month before client portfolio reviews.
This month, 7 charts tell one story about your money:
↓
English