The 3 Biggest Mistakes S Corps can Make that could lead to IRS penalties

[@JamieTrull]

Are you making any of these mistakes? Let me know in the comments below.

[@carennawillmont3706]

Great communication. Are you familiar with the mega back door solo 401k?

[@AmasertucoLLC]

Hi Jaime I know I seen a video of you talking about Novo banking. I was wondering if you can do a video about how to connect your novo business account to a Venmo business account. I have my personal Venmo and added a business account to mine but I don’t want to mingle mine help please

[@JamieTrull]

Great question, I will add it to the list of video ideas.

[@retrogamerdave362]

Just hire a CPA specialized in the business are you work in and pay them to do this for you instead of paying for this workshop. Being an S-Corp by itself decreases your chances of an audit by 1500%, just find a good accountant and lean on them to take care of this for you

[@JamieTrull]

The workshop is free. It’s also important for business owners to learn the rules even if they hire out. Many accountants are misinformed when it comes to reasonable compensation and use rules of thumb that aren’t actually IRS compliant. Being informed is key!