Does an LLC really protect your asset? Rodney Deloe, CPA joins Salim today to discuss whether or not an LLC is right for you, and why you should consider an S Corp to cut your taxes and build retirement savings. Rodney is Straight Talk CPAs’ Chief Operating Officer, responsible for the firm’s organic and strategic growth. His professional background includes senior financial roles including Chief Financial Officer at both publicly traded and privately held organizations, as well as Partner at a public accounting firm. With extensive experience in both public and private practices, Rodney has continuously provided exceptional value to his stakeholders while building systems that leverage technology and human capital. He has been involved in over a dozen mergers and acquisitions during his career, including acquisitions involving multi-million-dollar organizations. He is a regional and national speaker on mergers and acquisitions, focusing on due diligence and integration activities.
[00:01 - 05:47] Opening Segment
[05:48 - 11:54] Maximize Your Tax Savings and Retirement Savings
[11:55 - 16:00] Switching From LLC to S Corp and Vice Versa
[16:01 - 17:11] Closing Segment
Need an expert’s help with taxes? Connect with Rod on LinkedIn, head over to https://www.straighttalkcpas.com, or email him at rod@straighttalkcpas.com.
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Tweetable Quotes
“The uniqueness of an S Corporation profit is that it is not considered self-employment income by both the IRS and most state so that profit is not taxed that 15.3%.” - Rodney Deloe, CPA
“Do a quick survey, find out what a person doing your job in a regular business would earn, and you can use that as at least an initial baseline for what the IRS would deem as reasonable wages.” - Rodney Deloe, CPA