Good day to you all ☕️
I will be sharing some of the Overdtive Extra articles I have had published.
This tutorial where I was able to share ideas and reasons why and how a truck owner may benefit by paying themselves as a W2 employee.
There's multiple benefits that I've observed if managed correctly.
1st of owners normally are just thinking about their tax obligations and the big one here is the savings on SS Medicare payments. If you file as a Sub-S Corp, use payroll and segregate out your company profits.
But I see more:
• Paying your income taxes as you go relieves stress.
• Receiving a paycheck may help reduce over spending at home.
• Using a payroll helps avoid co- mingling your company resources with your personal spending.
• A payroll is normally helpful in improving an owners credit scores and the ability to obtain personal and business capital when needed.
I find it's best to hire a service provider there are many options some I've found are better that others and keeping this in house and independant from your other financal and tax services to be the better long term plan.
These are only a few things and if you are interested in learning more contact me by
Text 309-830-1264 or email
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