Eric has just returned from vacation in Puerto Rico, and he is definitely refreshed! He shares his thoughts about Kanye West’s new album, Donda, and Kobe Bryant’s book, The Mamba Mentality, How I Play. Eric also wrote an article for the AICPA about diversity in the accounting industry that he will discuss in the future.
In this episode, Ignatius starts the discussion about S Corporations (S Corps), a topic that they recently touched on in the episode about entity structures. An S Corp is a type of corporation that may pass income direct to shareholder without having to pay federal corporate taxes.
While the tax savings associated with an S Corp may be attractive, the Huddle Guys remind us of the importance of enlisting an experienced CPA to set up your business, prepare your business tax returns, and understand the rules related to your state and industry. You cannot rely on social media platforms for your tax advice!
As always, the Huddle Guys are here to help beyond this podcast. Looking for a CPA? Consider Eric and Ignatius for your services. Visit their websites and see how one of their firms can help you.
www.pierreaccounting.com www.iljcpa.com
It’s time to huddle up!
