We see so many people get this wrong, even when having the right information or working with a professional. There’s a lot of misinformation out there. In this episode, we provide 1099 income earning ranges where certain tax classifications may begin making sense, then dive into real numerical examples showing the tax savings difference getting it right can make.
Topics Discussed:
- PPP update and why you might be eligible.
- Tax deadline and extension reminders and information.
- Why you would want to report via schedule C as a sole proprietor.
- The prime place to operate as an S-corp and why that is.
- Why you will want to move into C-corp and the benefits of that.
- Example scenarios of each option you could choose.
Resources Mentioned:
Tags
financial plan, ER, ER doctor, physicians, Finances, Jonny McMullen, Scott Wisniewski, 1099 income, sole proprietor,S-corp, C-corp, filing taxes, tax classifications, forms
