Paul Jamison

speaker
21,958 appearances 63 recordings 1 series first heard Mar 2026 last heard 17 Aug

Paul Jamison’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months
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Recordings per month over the last 12 months — 63 in all, peaking in Jul 2026 with 13.

Appearances

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And the S corporation, from a tax perspective, that one's a little bit different because it elects the IRS to actually allow the owner, the operator to pay themselves what they call a reasonable W-2 salary.
And then they can take the remaining profits out as a distribution, which will...
you know, probably reduce the self-employment taxes.
So the pros and cons with that one is obviously with a corporation, why I don't say obviously, maybe you've never heard these terms before, but that's the one that maximizes your asset protection.
And there's a lot of paperwork and a lot of hassle, but you could do some tax savings with that route.
I have friends that do the corporations and they tell me about the rigid operational formalities and the bylaws and the formal meetings.
And, you know, you're paying more in accounting costs and there's a lot of paperwork, hassle, all that stuff.
So that's kind of the preview aspect.
Um, again, if you're just a 16, 18 year old kid and you're, you're, you know, you're not doing millions of dollars in revenue.
I mean, when you, when you start doing millions of dollars in revenue, that's when you definitely need a tax specialist and a bookkeeper and an accountant and all of them will explain to you, Hey, here's the LLC, here's the C corp, here's the S corp.
And they'll get you set up situated with all of that stuff, a professional.
But if you're just a 16, 17, 18 year old kid, um,
And you just want to start your business tomorrow.
You know, the sole proprietorship in most cases could be the simplest way just to get started, because then once you get that set up, you get your business license and insurance.
You can go to your local city or county office.
I went in person.
I think some of the stuff you can do online now and you just get a business license.
Then I would, you know, one of the first steps I would do is then get general liability insurance immediately.
I would not step foot on a customer's property.
I would not know one blade of grass.
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