Unhire Me Legal is a beacon of empowerment for micro to mid-size business owners. With a tone that's both professional and relatable, this series cuts through legal complexities, offering clear, actionable guidance. Hosted by Krystal Williams, whose unique blend of emotional intelligence and legal acumen has defined her career, the podcast demystifies legal challenges, encouraging entrepreneurs to harness their critical thinking skills for legal decision-making.
Each episode is a blend of insightful legal strategies and a deep understanding of the unique hurdles faced by diverse businesses. Unhire Me Legal is not just about learning the law; it's about integrating legal know-how into the fabric of business growth and success. Join us as we navigate the legal landscape with clarity, wit, and a touch of subversion, all while building a community of legally empowered entrepreneurs.
In this episode, we will take a closer look at the particularities of what it means for an LLC to take an S-Corp election.
Highlights
Why an LLC with S-Corp election is advantageous for solopreneurs or small business owners
In-depth breakdown of the four things to consider for any corporate structure
How the S-Corp election affects member classes and its potential implications to business growth plans
How taxation rules change with S-Corp election
The two tax deadlines for LLC with S-Corp election
Different steps to execute an S-Corp election
IRS requirement for business owners to pay themselves a 'reasonable salary' with an S-Corp election
Personal experience about the positive impact of the 'reasonable salary' requirement on self-valuation
Episode Resources
Book Recommendation: Overcoming Underearning - https://www.amazon.com/Overcoming-Underearning-TM-Simple-Richer-ebook/dp/B000W93AH4
IRS Form 2553 - https://www.irs.gov/pub/irs-pdf/f2553.pdf
Connect with Krystal Williams
https://providentiagroup.com
https://www.linkedin.com/in/krystaldwilliams
16 Feb 2024
What Corporate Structure is Right For Your Business - Episode 1
In this episode, I do a deep dive into different corporate structures and the factors a business owner should consider when choosing a structure that's right-sized for their business.
Highlights
First factor in choosing the right corporate structure: how many owners are there?
Second factor: personal liability exposure or limitation of liability.
Introduction to the term 'limitation of liability'.
Third factor: taxation.
Fourth factor: corporate record keeping or corporate formalities.
Discussion of sole proprietorship as a type of corporate structure.
Overview of the importance of documentation in a general partnership.
Explanation of deductions in an S corporation versus a C corporation.
Explanation of taxation with an LLC.
The need for an Employer Identification Number (EIN) for an LLC.
Explanation of circumstances where an S-Corp election would be beneficial.
Explanation of why serial investors prefer the C-Corporation structure for their investments.
Assurance that changing corporate structure (from LLC to C-Corporation) is possible with legal assistance.
Episode Resources
IRS Form 2553 - https://www.irs.gov/forms-pubs/about-form-2553
IRS Form 8832 - https://www.irs.gov/forms-pubs/about-form-8832
Learn about EINs - https://www.irs.gov/businesses/small-businesses-self-employed/employer-id-numbers
Free Online EIN Application - https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
https://podcasts.apple.com/us/podcast/unhire-me-legal/id1728670993
Connect with Krystal Williams
https://providentiagroup.com
https://www.linkedin.com/in/krystaldwilliams
1 Feb 2024
Welcome to Unhire Me Legal
Unhire Me Legal is a beacon of empowerment for micro to mid-size business owners. With a tone that's both professional and relatable, this series cuts through legal complexities, offering clear, actionable guidance. Hosted by Krystal Williams, whose unique blend of emotional intelligence and legal acumen has defined her career, the podcast demystifies legal challenges, encouraging entrepreneurs to harness their critical thinking skills for legal decision-making.
Each episode is a blend of insightful legal strategies and a deep understanding of the unique hurdles faced by diverse businesses. Unhire Me Legal is not just about learning the law; it's about integrating legal know-how into the fabric of business growth and success. Join us as we navigate the legal landscape with clarity, wit, and a touch of subversion, all while building a community of legally empowered entrepreneurs.
Contact Unhire Me Legal
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