230. Switching to S Corp | Elizabeth of Fiore Accounting & Tax Services
who it's right for
Let me tell you something... when you have a 5-digit tax bill at the end of the year - even after paying quarterly taxes - that is a really good time to lean on professionals to help you configure your financial setup! Today's guest, Elizabeth from Fiore Accounting & Tax Services, helped me do just that, and then some.
Listen in for the details of:
- all the services their team provides
- what S Corp actually means
- how much I owed after 2022
- how we changed my business to an S Corp election
- the advantages and disadvantages of S Corp
- payroll and Profit First as an S Corp
- who should consider making the switch as well
- how the decision depends on your individual circumstances, and even business goals
I always love having Elizabeth on the show because she explains confusing financial matters so well. She and her team have been such a help to me over the years and I know that even if you're not considering S Corp status you'll get some great financial insights in this episode!
And in the UGlu Hotline, we get a nice tip about blending your clamps and clips in with your decor.
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Ep. 80 - Profit First Revisited with Elizabeth Fiore
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