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How to Set Up an S Corp in 2024 (Step-By-Step)

Form your S Corp with Northwest for $39 (exclusive deal): https://bit.ly/northwestregisteredagent ^This is now our preferred LLC formation service, because it's actually cheaper for you! The $39 deal is available only to our audience so make sure you take advantage of it to set up your LLC in about 5 minutes. The process is almost exactly the same! In this video, I'm showing you step-by-step how to set up an S Corporation in 10 to 15 minutes. This is the easiest, fastest, and cheapest way for you to create your s corp business entity. This is exactly how I set up my own S corporations myself, and I recommend any new business owner to follow through this video. Get a reasonable compensation report for your S Corp from RCReports: https://scorp.rcreports.com/startupwise/ Setting up a business entity can be quite complicated, so it's important to choose a service that does it for you. I used Northwest and Bizee (the new and improved IncFile) multiple times for my own businesses. (ad) You can also set up your S Corp with Bizee (originally called IncFile): https://startupwise.com/bizee ^ Bizee is the new and improved IncFile — they're the same company and still provide the same services, but with a new name. I recommend the gold plan for 99% of you guys watching this. It will save you a lot of time and ensure your LLC is done correctly. Thank you for using our affiliate link as it helps keep our content free :) Skip to 4:56 to get straight into the section on how to create an S Corp with Bizee. I'll show you how to easily and affordably create an S Corp with Bizee (if you use this link, you'll be helping support the channel at no extra cost to you). The instructions are pretty much the same if you use Northwest Registered Agent. Check out Gusto here (get 2 months free with our exclusive link): https://startupwise.com/gusto/ Our favorite business must-haves: 💳 Best business credit cards: https://go.milevalue.com/business-cre... 🏦 Novo (best business bank): https://startupwise.com/novo 🖥️ Best AI website builder ($3/month using code STARTUPWISE): https://startupwise.com/hostinger/ ⚙️ Northwest (best $39 LLC formation service): https://startupwise.com/northwestLLC 💰 Payroll with Gusto (get 2 months free!): https://startupwise.com/gusto 👨💼 Best overseas staffing agency (save 80% on payroll): https://paired.so/startupwise In the first part of the video, we go through what S corps are and the pros and cons of switching over to an S corporation. In the latter part, we'll go through a screenshare of me setting up a s corp, using their platform. You'll see it's simple and easy to do, but I'll show you which options to select and how to navigate their platform. If you're making over $50,000 net profit in your business, then it likely makes sense to switch over. You'll save on your FICA taxes (15.3%) on any distributions you take from your company, and it could end up saving you tens of thousands of dollars per year. Request New Videos Here: https://forms.gle/k9TtfauggkEpAWNQA More tutorials on our website: https://www.startupwise.com Thank you for watching! -Charlie Timecode: 0:00 - Intro 0:45 - What is an S Corp? 1:38 - Advantages of an S Corp 4:56 - Walkthrough of Setting up an S Corp using Bizee (originally called IncFile) 13:53 - Conclusion #SCORP #SETUP #HOWTO We'll cover: s corp set up, s corp guide, s corp tutorial, setting up s corp, best way to set up s corp, Things we will cover: best way to set up s corp, cheapest way to set up s corp, fastest way to set up s corp, best way to set up s corporation, cheapest way to set up s corporation, fastest way to set up s corporation, s corp guide 2021, s corp business entity set up 2021, best way to set up s corp, s corp tutorial, bizee Disclaimer: Some of the links above may be affiliate links, which means that if you click on them I may receive a small commission. The commission is paid by the retailers, at no cost to you, and this helps to support our channel and keep our videos free. Thank you! All info from our videos is compiled from online sources and our own experience, and we encourage you to do your own due diligence. We appreciate your viewership!

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