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We currently have a president with no political background.
You don’t have to be a CPA to learn tax/structuring.
Most of the stuff this guy says is just wrong. You don’t get out of self-employment taxes by becoming an S corp., the entity itself is just responsible for half of whatever you pay yourself in salary, but the owner still has to pay self employment taxes on his ordinary business income. Likewise, you will never get the IRS to agree that a million dollar yacht is an ordinary and necessary business expense, like ever. Those 7 CPA firms that refused to take that position were giving the person good tax advice. Just because someone tells you what you want to hear doesn’t mean they are right.
I think you’re a bit off the mark on the reasonable salary. In no world should you be paying yourself 100% of the company’s profits.
S Corp returns also aren’t that expensive. If your business is profitable enough, S Corps are a tax savings - but it isn’t thousands & thousands like an influencer says it is.
The guy recommends borderline tax fraud or actual tax fraud half the time. Either his social media presence is entirely fake or he’s just lucky the IRS has no enforcement arm.
They will get to him one day, if that’s the case
Yeah, the person has nothing to lose if the advice blows up. It’s part of the power of licensing: people who work hard for the license won’t want to lose it.
You should see how much some people make on only fans
Is there there a market for chubby old white dudes?
It’s giving Schitts Creek.
Is this person the host of a syndicated radio program?
He’s an enrolled agent who was going hard for Trump and convinced people to vote for Trump due to his professed tax plan. He claimed US citizens working abroad would be double taxed which is inaccurate. He gives advice on things that are also outside his wheelhouse and claims he’s better than a CPA.
He gives scammer vibes