Krecicki Corporation - Just registered as an S-Corporation

**CKrecicki** · 03-27-2010 03:44 AM

Check it out

Krecicki Co. - Naples, Florida - Small Business Solutions.

We are a small business solutions media company and domain real-estate company.

I just registered it about 20 minutes ago, I have made around $10,000 in the past few months, I finally have decided to expand and becoming more legitimate.

Ill be doing taxes through my SS#

I found it was far better then an LLC

I also have 1000 shares at .01

**Carlos™** · 03-27-2010 05:01 AM

I would like to ask you what theme is that? Where'd you get it? That's almost a theme that I've been looking for!

Its black, but I want variants of blue.

And btw, why are you doing taxes through your SS#? It defeats the purpose of having a corporation. Could have just formed an LLC if you wanted to do it that way.

**CKrecicki** · 03-27-2010 07:58 PM

I have my reasons, also the state requires a business tax ID so that what ill use for taxes. Also its called
streamline

**JohnGalt** · 03-28-2010 12:38 AM

Carlos, an S-Corp is also a flow through, same as an LLC for taxes but you after paying yourself a reasonable wage, you can also give yourself distributions that are exempt from payroll tax. An S-corp is also a corporation and corporations have a much longer history of proven liability protection when compared to an LLC. Plus corporations can sell stock.

**jmandgroup** · 03-28-2010 12:45 AM

Well designed website minus the advertisements (on a corporate website?).

Krecicki if you would like to stay legitimate I suggest you not advertise securities without the proper SEC forms. If you want to stay legal I suggest looking into Reg D.

Also I suggest not using Website value calculator and web information as domain appraisal service. All free, automatic domain apprasial websites (including SEDO) are worthless. A good domain investor wont take those numbers seriously.

**GlobalWealth** · 03-28-2010 11:21 AM

Originally Posted by JohnGalt

Carlos, an S-Corp is also a flow through, same as an LLC for taxes but you after paying yourself a reasonable wage, you can also give yourself distributions that are exempt from payroll tax. An S-corp is also a corporation and corporations have a much longer history of proven liability protection when compared to an LLC. Plus corporations can sell stock.

Corporations are actually much worse than LLC's for liability protection as corp shares can easily be attached in a judgment. A properly structured LLC cannot be taken whereas a corp can. You can also elect to tax and LLC as an s-corp so you gain the same tax benefits. You can also sell membership interest in an LLC which has the exact same effect as selling shares in a corp, but an s-corp generally can only sell shares to a human, but an LLC can be owned by another corp, human, trust, LLC, etc. LLC's also require much less documentation for compliance.

**soccerprodigy777** · 03-29-2010 07:58 AM

Just a suggestion: I spotted several grammatical errors throughout your website. You might want to go back through and tighten it up a bit. Also, "solutions" is spelled incorrectly on a couple links...

**pboychuk** · 03-31-2010 12:28 PM

My accountant, just suggested I change to an S-Corp from an LLC so that I can save on payroll taxes, It makes sense to me although I don't know much about the requirements and other restrictions. The only negative is when paying yourself a payroll it limits your IRA contributions, but I was never a fan of dumping all my money into my SEPIRA at the end of the year just to save on taxes, so hopefully I can atleast break even without having so much tied up in retirement.

Regarding doing taxes through SS#, the way I understand it is you will be filling taxes for the corp under your fedtaxid (EIN I suppose) and than you will file your personal taxes under SS# which is for your salary, but you cannot file both under SS# because you and your business are separate entities.

Were you able to find any reasonable information about how to determine your salary? I have heard look at similar jobs, also I have heard 50% of business income. Apparently the IRS is getting more strict about this.

**CKrecicki** · 04-01-2010 12:05 AM

I appreciate all of the advice. I will be taking the ad's down, I am also paying a girl form school $20 to go over all my content. Thank you.

**GlobalWealth** · 04-01-2010 05:34 AM

Originally Posted by pboychuk

My accountant, just suggested I change to an S-Corp from an LLC so that I can save on payroll taxes, It makes sense to me although I don't know much about the requirements and other restrictions. The only negative is when paying yourself a payroll it limits your IRA contributions, but I was never a fan of dumping all my money into my SEPIRA at the end of the year just to save on taxes, so hopefully I can atleast break even without having so much tied up in retirement.

Regarding doing taxes through SS#, the way I understand it is you will be filling taxes for the corp under your fedtaxid (EIN I suppose) and than you will file your personal taxes under SS# which is for your salary, but you cannot file both under SS# because you and your business are separate entities.

Were you able to find any reasonable information about how to determine your salary? I have heard look at similar jobs, also I have heard 50% of business income. Apparently the IRS is getting more strict about this.

if you accountant changing corporate structures, find a new accountant. You can change your tax election of your LLC to subchapter S (s-corp).

**pboychuk** · 04-01-2010 09:27 PM

Originally Posted by GlobalWealth

if you accountant changing corporate structures, find a new accountant. You can change your tax election of your LLC to subchapter S (s-corp).

That's what they are doing, I didn't quite understand what an election was, and also they are requesting to have the election made retroactive for the previous year so that I can save on last years taxes. Also, Another bit of advice I have researched, I was worried about having a lower salary and thus lowering my tax deductible retirement account contributions with my SEPIRA, But with a Solo-401K I can basically get to the contribution level I am comfortable with, which would not be permitted with the SEPIRA...

I am having to learn about taxes and business real quick, I gander to say doing a good job on your taxes is just as valuable as doing well in business. I would love to speak with any seasoned self-employed individual about tax strategies that have worked for them, So if anyone wants to help a kid out please feel free to PM me!

**Carlos™** · 04-02-2010 03:19 AM

Originally Posted by CKrecicki

I will be taking the ad's down.

You really don't need to take down the ads. There are plenty of corporate websites that use ads as an payment source.

For example, you need to allot your cashflow from your B2B structure to a plan that helps market the corporation, so you have a plan B ready to pay your server, and domains - stuff like that.