2 Contractor Tax Reduction Strategies - LLC vs S Corp

General contractors and construction people always end up needing to get good tax planning, and I want to provide two major ways that they can reduce and mitigate the taxes.
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[@rustybloodsaltysoul8640]

Phenomenal clear & to the point information on the matter, your right, a lot of us dont have the time to look into every avenue that can save a buck and midigate taxes when establishing, this was the perfect ice breaker guidline

[@jaimenavarro4345]

Great information. At the end of the day is not what you make is what you keep, and you have given some pretty simple but powerful information to achieve that. Keep up the good work.

[@robertbobbymejia]

Great video, good info straight forward communication!! Appreciate you

[@andresg1738]

That’s a good freaking mic, what do you use? Good video btw. Thanks man 🙏🏽

[@visionary6498]

Good shit hope your still making videos bud

[@briank1263]

This happened to me this year. Extremely stressed.

[@GplusF]

Awesome information!

[@jasonsimila6413]

Thanks for the information. Excellent Video.

[@anthonydesouza9341]

Solid video sir. Any suggestions on finding an good accountant or vetting tips?

[@FeedbackWrench]

Look for a tax planner that will actually help you through the yearly 1 - performance financial LLC in Iowa, Diwan Accounting in Seattle, Scaled Tax and Accounting of Philadelphia, passageway Financial in Minneapolis are my go tos at the moment

[@danc7097]

Any suggestions for New York?

[@punkouter24]

where are you going ?

[@martinroque7920]

This helped me alot , Am trying to get my drywall license already but should i get my LLC first and then write it down next to my business name when appling for my license on my contractor application or do it after i get my license ?

[@URBNBLDRS]

In my experience either way works. You will have to pay twice for your contractors license once you change entities from sole prop, but you might be sitting on an unusable LLC or Corp-S until you finally get your license and insurance up and running. Figure out what will be more cost effective.

[@jslickzjourneyshow3293]

Can a corporation 1099 employees What would be the best route other then payroll

[@wrestlepwn]

Is it too late for me to file as an s Corp for 2021?

[@sergiojimenez1809]

Right now I’m working in construction just by myself and get paid in cash and I just want to know if getting an LLC with give me the right credentials to start a company and hire workers. Also all that cash I put into my bank, can I just use my bank statements and take them to my accountant to do my taxes?

[@luismart7714]

It is best to generate documents (e.g. invoices) to support the money coming in. The main reason you want to get an LLC is to limit your liability.

[@Joellarainbow]

Thank you, I'm sick of paying 43% of what I make