I have a single member LLC pass through umbrella that holds all my individual STR LLCs. Can I pay myself as an employee so that I can contribute 72k after tax and do a mega back door Roth? Is it true I don’t need a C or S corp to do this? A friend does this using mysolo401k.net. He says I have to pay payroll taxes at 15%. I’m assuming that’s 15% of the 72k? He has the employer contribute 72k and the employee contribute 0

I’ve been running the numbers on my entity structure, and I’m starting to wonder if the S-Corp election is actually costing me money compared to a simple Sole Proprietorship in New York City. 1. Since New York City doesn't recognize the S-Corp election, I'm getting hit with the General Corporation Tax (GCT) of roughly 8.85%. If I were a Sole Proprietor, I’d be looking at the Unincorporated Business Tax (UBT) of 4%—or potentially 0% if I qualify for the Real Estate Safe Harbor (which is my case). 2. I know the main selling point of the S-Corp is saving the 15.3% Self-Employment tax. For "high" earner, we are hitting the Social Security wage cap anyway, the S-Corp really only saves the Medicare portion (~3.8%) on the remaining business profit, after the "reasonable" salary. 3. Admin overhead of payroll processing, corporate tax return fees, and unemployment insurance. 4. Solo 401k is eligible for both S-Corp and Sole Proprietorship, but the S-Corp strategy is all about minimizing W-2 salary to save on self-employment taxes, it reduces my ability to make pre-tax employer 401(k) contributions, so I have to compensate with the mega backdoor Roth (after-tax to roth). Sole Prop would simply use 20% of the net profits, so a much much higher pre-tax contribution. 5. Sole Prop pay Social Security tax on the entire net profit (up to the annual cap) and S-Corp could potentially be limited to the W-2 Wages of the "reasonable" salary. Any thoughts on the winner? - Sole Prop Wins on NYC City tax - Sole Prop Wins on admin costs and simplicity - Sole Prop Wins on 401(k) Deduction - Sole Prop Winos on Social Security benefits for retirement - S-Corp Wins on Audit risks - S-Corp (partially) Wins on Self-Employment taxes Thanks.

Hi, I’d like to get some leads or recommendations for oil n gas investments before end of this year. Please suggest the min investment, final deadline and expected ROI. Also, should I open an LLC for this investment?

I have a favor to ask of all of you... and if you'll do me this solid, I'll buy you a coffee. We're working on our Google reviews for my company Tax Strategy 365. If we have ever worked together in any capacity, would you do me a solid and leave an honest review? What you like, what was valuable for you, even what you didn't like! I'd greatly appreciate it! Just google "Tax Strategy 365 Reviews" and leave a review on our Google profile. Once you leave the review, screenshot it and DM it to me here in Skool and I'll send you a Starbucks gift card as a thank you 🙏

I want to get ahead of the Trump Accounts (Section 530A) opening in July 2026. My understanding is that we would have to fill Form 4547 in the Tax return 2025 for both cases: new born eligible for the $1000 but child not eligible to have the ability to contribute the $5000 per year. I also just learned that S-Corp could contribute $2500 and this sounds to me like a very relevant deduction. Any thoughts? Is that correct?