Treading Carefully with Self-Employment and Taxes
In this episode, KT and George discuss:
- A recent change in corporate tax reform
- The benefits of being an S corporation
- Small business owners sweetening the tax situation
- A pass through entity is an entity where the net income passes directly down to the individual tax payer
- If you’re a single individual and your taxable income falls under $157,500… you can take that 20% deduction off your bottom line
- What effect is this tax reform going to have on the real estate market?
“Corporate tax reform hasn’t been done in the is country in many years and as a result a lot of our bigger companies have begun to keep and declare their assets out of the country.” – KT Thomas
Reach Me Here: KT Thomas
Connect with KT Thomas: https://ktsmoneymatters.com/
Purchase KT’s book- The Hardworking Woman’s Guide to Money
Show Notes by Show Producer: Anna Nygren
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