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1:11shorts
S corps let you create pension plans that LLCs cannot
S corps can set up old-fashioned pension plans to shelter large profits, while LLCs are limited to 401k and SEP options.
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1:01shorts
First time abatement can remove IRS penalties
If you've paid taxes on time for 4-5 years, you can request a first time abatement to remove late filing and payment penalties.
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