S4 Episode 14-How the New Tax Reform Impacts You-Part 6-Small Business Owner, S Corps or Sole Proprietorship

March 30, 2018

Hello my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast.  The podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.  As you know, there has been a lot of focus on the tax reform.  This will be my final one for the current future, and today's focus will be small businesses-S-CORPs, sole proprietorships, etc.

In this podcast you will:

  • Discover how the new tax reform will impact small businesses
  • Learn the difference between a s corp and a sole proprietorship
  • Discover how taxes differ between FICAs-Social Security and Medicare
  • Get lots of questions answered from our episode with Craig Cody in February 2018
  • Learn the difference between "above the line" and "below the line" tax deductions
  • Uncover the still looming question, "Does the taxable income have to do with all of your income, or is it just based on your business income?"

Resources mentioned in this podcast:

How Pass-Through Income Will Be Taxed In 2018 For Small Business Owners

Tax Reform! How Physicians and the Self-Employed are Affected

Individual Tax Planning Under The Tax Cuts And Jobs Act Of 2017

Trump Tax Reform Calculator

A Tax Professional’s Take on Trump’s Tax Plan

If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222.

If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my website

Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.