What's new

Independent divisions of S-corp

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Live your best life.

Tired of paying for dead communities hosted by absent gurus who don't have time for you?

Imagine having a multi-millionaire mentor by your side EVERY. SINGLE. DAY. Since 2007, MJ DeMarco has been a cornerstone of Fastlane, actively contributing on over 99% of days—99.92% to be exact! With more than 39,000 game-changing posts, he's dedicated to helping entrepreneurs achieve their freedom. Join a thriving community of over 90,000 members and access a vast library of over 1,000,000 posts from entrepreneurs around the globe.

Forum membership removes this block.

M-M

New Contributor
LEGACY MEMBER
Joined
Aug 27, 2007
Messages
106
Location
NC
Rep Bank
$315
User Power: 11%
I have an S-corp, of which I am the only employee. My CPA suggested that I should make my 2 new websites (which have nothing to do with the SC) divisions of the SC to avoid self-employment tax on the websites' revenue. Is that a good plan? Is there anything I need to look out for? Do I need to fire my CPA?

On the personal side, is it smart to make next month's mortgage payment late this year, and to go ahead and pay property taxes? I've heard both; would do the experts think?

Thank you.
 
I have an S-corp, of which I am the only employee. My CPA suggested that I should make my 2 new websites (which have nothing to do with the SC) divisions of the SC to avoid self-employment tax on the websites' revenue. Is that a good plan? Is there anything I need to look out for? Do I need to fire my CPA?

This is a great way to avoid Self-Employment. As long as there isn't any additional liability from adding these different "divisions" under one S Corp, it should be fine.


On the personal side, is it smart to make next month's mortgage payment late this year, and to go ahead and pay property taxes? I've heard both; would do the experts think?

Thank you.

Two different answers, because the real answer is "It Depends!"

Two things: (1) Do you itemize? (If not, doesn't matter either way) and (2) Are you subject to AMT this year? If you are - postpone the prop tax and state income tax estimated payment because it won't help. If you're not, prepay.
 
Thank you, Diane. There shouldn't be any liabilities, and I am not subject to AMT.
 
Thank you.
 

Welcome to an Entrepreneurial Revolution

The Fastlane Forum empowers you to break free from conventional thinking to achieve financial freedom through UNSCRIPTED® Entrepreneurship where relative value and problem-solving are executed at scale. Living Unscripted® isn’t just a business strategy—it’s a way of life.

Follow MJ DeMarco

Get The Books that Change Lives...

The Fastlane entrepreneurial strategy is based on the CENTS Framework® which is based on the three best-selling books by MJ DeMarco.

mj demarco books
Back
Top Bottom