As our digital existence expands, accountants must leverage every tool to reach potential clients and grow our practice. Facebook advertising is a robust platform that offers precise targeting options, retargeting capabilities, and various ad formats to drive conversions. In this article, I will provide a comprehensive overview of how accountants can use Facebook advertising effectively, covering ad creative, audience targeting, and budget optimization, along with practical examples to illustrate each concept.
The Ultimate Business Upgrade: Turning Your Partnership into an S Corp Without the Tax Bite
Dominique Molina, CPA MST CTS
Looking to cut down on self-employment taxes on your partnership income? Converting your partnership into an S corporation might be the answer. If you currently run your business as a partnership or an LLC taxed as a partnership, you’re probably familiar with the sting of self-employment taxes. Unlike shareholder-employees of an S corporation, who only pay Social Security and Medicare taxes on their salaries, partners typically get hit with self-employment taxes on their entire share of the business’s net income. That can add up fast. By transitioning to an S corporation, you can restructure how you take your income—splitting it between salary and profit distributions. The big advantage? Those profit distributions are not subject to self-employment tax, potentially saving you thousands each year. So, if reducing your tax burden sounds appealing, let’s break down how a tax-free Section 351 incorporation works and what you need to know before making the move.
