2 options for starting your S Corp here:
Start your S Corp for $0 with ZenBusiness: [ Ссылка ]
Bizee (Incfile has rebranded as Bizee - same exact company!): [ Ссылка ]

In this video, I'm showing you how to create an S Corp step by step in 2024, the easiest and most affordable way. I get this question all the time, and this is exactly how I set up my own businesses, and I will walk you through the setup process. If you want to officially start a business in 2024, this video is for you.

Get a reasonable compensation report for your S Corp from RCReports:
[ Ссылка ]

I'll show you how to easily and affordably create an S Corporation with Bizee (previously IncFile). I earn a referral fee if you use their service at no additional cost to you. By using my links, you're supporting my channel - think of it as a tip for bringing you content!

Another great option for starting you S Corp is with ZenBusiness. I really like this company because their onboarding process is super easy, and they have a free plan: [ Ссылка ]

Start your S Corp here (Incfile has rebranded as Bizee - same exact company!):
[ Ссылка ]

^I used Bizee/IncFile FOUR times and have nothing but great things to say about their service. I recommend getting the gold/platinum plan for 99% of business owners. It's the one I've used many times in the past and it saves you so much time, and ensures that there aren't any filing mistakes when it comes to your business. Avoid the silver plan as it misses out on a lot of key features that you'll want.

Set up your S Corp Payroll with Gusto (use this link to get a $100 FREE gift card):
[ Ссылка ]

^This is the payroll software I use to pay myself a W2 salary from my S corporation. If you use my link Gusto will send you a $100 gift card when you sign up :)

This video is a bit different than my other videos, but since I was getting this question so much I decided it would be helpful to walk you through setting up an S Corp for beginners. A lot of you out there are creating new side hustles or businesses, and an S corp is a great way to make your business more formal, take tax deductions, and limit your liability. It also allows you to reduce your taxes if you do make over 40-50k per year in net income. We'll talk about all the specifics and run through examples of when it makes sense to get an S corp versus an LLC.

S corps are harder to form and keep tabs on than LLC's - since you will need to run payroll to see any tax benefits. You'll essentially pay yourself a reasonable salary from your business. Yes, you will be a W2 employee of your own business. Any W2 salary you pay yourself will be subject to the 15.3% FICA self employment tax, which is something you're paying right now on all of your income. HOWEVER, any remaining profits count as distributions, and these are NOT subject to the 15.3% FICA tax. You can see how this can save you a lot of money each year if you make a certain amount of money. Most of my businesses are structured as S corps and it reduces my taxes my a significant amount.

I hope you get a ton of value out of this video - make sure to like and subscribe for more videos just like this! And if you want to check out other detailed tutorials like this, you can go to my StartupWise YouTube channel:

[ Ссылка ]

How to Set Up an LLC Step-By-Step for FREE (2022 Guide):
[ Ссылка ]

Happy hustling!!

-Charlie

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Disclaimer: Some of the links above may be affiliate links, which means that if you click on them I may receive a small commission. The commission is paid by the retailers, at no cost to you, and this helps to support our channel and keep our videos free. Thank you!

In addition, I am not a financial advisor. Charlie Chang does not provide tax, legal or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.

► My Instagram: [ Ссылка ]

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