How to operate your S Corporation for Tax Savings

                   Just a reminder about S corps. You need to take a salary of roughly half of your profit until that exceeds $60,000 a month. If half of your profit is exceeding $60,000 then we should talk about your next steps. Remember to reimburse your self for the miles driven @ .67c per mile in 2024 and reimburse your self for your home office and internet and be generous. I’m reimbursing myself about $500 per month just for my home office and internet alone! If you do all of this you will be much happier come tax time next year.  Good Luck James 410-457-7331