If you’re a sole proprietor, LLC owner, or receive a K-1… read this 👇 One of the most common (and expensive) tax mistakes I see is letting all business income be treated as self-employment income . When that happens: You pay income tax , plus You pay self-employment tax (15.3%)  on every dollar  of profit That adds up fast once you cross six figures. Why an S corporation is worth considering An S corp doesn’t change how much you earn — it changes how that income is taxed .

Saving for a child’s future doesn’t have to be complicated — but choosing the right vehicle matters. Two popular (and very different) options are Trump Accounts and 529 Plans.

One of the most common (and expensive) tax mistakes I see is letting all business income be treated as self-employment income.

If you’re a sole proprietor, LLC owner, or receive a K-1… read this 👇 One of the most common (and expensive) tax mistakes I see is letting all business income be treated as self-employment income . When that happens: You pay income tax , plus You pay self-employment tax (15.3%)  on every dollar  of profit That adds up fast once you cross six figures. Why an S corporation is worth considering An S corp doesn’t change how much you earn — it changes how that income is taxed .

IRS expands Business Tax Account access to corporate Designated Officials, enabling online self-service and income verification through IVES