S-Corp, LLC, or Sole Proprietor? How Your Business Structure Affects Your 2024 Taxes!

In this episode of The Wealth Planning Podcast with Brister Law, Anthony Brister delves into the importance of selecting the appropriate business structure to minimize tax liabilities. Anthony discusses the tax implications of different business entities, including sole proprietorships, LLCs, and S Corporations.

 

Real-life case studies highlight how business owners can save thousands by making strategic tax decisions.

 

Learn how to protect your income, legally reduce your tax bills, and make your business work for you—not the IRS. Tune in and discover actionable steps to take control of your tax strategy and build real wealth.

 

Timestamps📌:

00:00 Introduction: The Tax Burden Dilemma

00:32 Understanding the Wealthy: Strategies vs. Tax Codes

01:24 Choosing the Right Business Structure

03:25 Sole Proprietorship: The Default Trap

04:40 LLCs: Protection Without Tax Benefits

05:27 S Corporations: The Wealth Builder's Secret

06:24 Case Study: Sarah's Tax Transformation

08:46 Action Steps: Take Control of Your Tax Strategy

09:29 Conclusion: Build Wealth, Not Tax Burdens

 

💡 Key Takeaways:

✅ Why sole proprietorships are the IRS’s favorite (and why they cost you more)

✅ How an LLC gives legal protection but not tax benefits—unless you take the next step

✅ The S Corp strategy that allows business owners to avoid unnecessary self-employment taxes

✅ A case study of a consultant who saved over $10K annually—just by restructuring her business

 

🚀 Don’t keep overpaying the IRS! If you're making over $50K in your business, it's time to optimize your tax strategy. Visit us at bristertaxlaw.com to schedule a free discovery call today.

 

Like, share, and subscribe to help more business owners stop wasting money and start building real wealth! #TaxStrategy #BusinessGrowth #KeepMoreMoney