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Become a Controller; enroll in the Controller Academy 🚀 https://controller-academy.com/courses/controller-academy This video will be your ultimate guide on the differences But more importantly, I am gonna focus on how you can make high 6 figures with either of these 2 professions So here is our agenda: we'll take a look at the Job responsibilities of both the bookkeeper and the accountant We'll talk about the education requirements And then, I'll tell you How you can earn high 6 figures regardless of whether you chose to be a bookkeeper or an Accountant Time Stamps: 00:00 Intro 00:27 Agenda 00:46 1. Job Responsibilities 02:23 2. Education Requirements 04:07 3. How Accountants Make $100K plus 06:37 4. How Bookkeepers Make $100K plus ----------------------------------- Hang Out with me on social media: 📸 https://www.instagram.com/the_financial_controller/ 📱https://www.tiktok.com/@thefinancialcontroller https://www.linkedin.com/in/bill-hanna-cpa-7653a851/ DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week! All views expressed on my channel are mine alone. Not intended as financial or professional advice

This video provides an overview of the tax rules for S corporations in the United States. An S corporation is a business entity type that provides the limited liability of a corporation but is taxed as a flow-through entity (no double taxation like C corporations). Profits (or losses) of the S corporation flow through to shareholders and are taxed at the shareholder (but not corporate) level. An S corporation must be organized in a U.S. state. After creating a corporation, shareholders must file Form 2553 with the IRS to elect for the company to be treated as an S corporation. Not all corporations be an S corporation, and there are requirements based on the type of corporation, the number of shareholders, and types of shareholders. Income and deductions of an S corporation are allocated to an S corporation on a pro rata basis. In contrast to partnerships, special allocations (non pro rata) are not allowed. Distributions to shareholders are generally nontaxable to the extent the shareholder has basis, although distributions can be taxable if they exceed the shareholder's basis or if the distributions pertain to earnings and profits (E&P) accumulated by the corporation prior to its election to become an S corporation. A shareholder's basis is increased by capital contributions, share purchases, and the shareholder's pro rata share of income items, while the shareholder's basis is decreased by nontaxable distributions to the shareholder and the shareholder's pro rata share of deductions and losses (although the shareholder's basis can never go below zero). In contrast to partnerships, a shareholder's basis is not increased when the S corporation borrows money (unless the shareholder loans money to the S corporation). While S corporations are flow-through entities and are thus not subject to income tax, S corporations may be subject to taxes in certain situations. 0:00 Overview 0:33 What is an S corporation? 2:51 How to create an S corporation 3:40 Requirements to be an S corporation 8:01 Allocating income and deductions 11:19 Tax consequences of distributions 14:53 Calculating a shareholder's basis 17:13 Taxes on S corporations — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/ * https://michaelmclaughlin.com

This episode covers changes to employee benefit plan audits, FASB’s proposed updates to reference rate reform guidance, important ERC accounting guidelines and PCAOB, SEC and U.S. DOL updates.*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***Additional resources:• FASB Proposes Updates to Reference Rate Reform Guidance - https://www.fasb.org/page/getarticle?uid=fasb_Media_Advisory_04-20-22• SAS 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA - https://us.aicpa.org/content/dam/aicpa/research/standards/auditattest/downloadabledocuments/sas-136.pdf• PCAOB proposed requirements for accounting estimates and using specialists - https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-requests-comment-on-impact-of-auditing-requirements-related-to-estimates-and-specialists • U.S. Department of Labor: Compliance Assistance Release No. 2022-01 - 401(k) Plan Investments in “Cryptocurrencies” - https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/plan-administration-and-compliance/compliance-assistance-releases/2022-01.pdf• SEC Proposes Rules to Enhance Disclosure and Investor Protection Relating to Special Purpose Acquisition Companies, Shell Companies, and Projections- https://www.sec.gov/news/press-release/2022-56#IssuesWatch #podcast #accounting #audit #auditing #erisa #employeebenefitplans #ebpaudits #fasb #aicpa #pcaob #sec #spacs========================================Watch all IssuesWatch Podcast episodes at https://www.youtube.com/playlist?list=PLJ2syuG5TiiZOFQdURLJUDzGJVz17ZPth SUBSCRIBE FOR MORE CPA VIDEO TIPS AND NEWS - https://www.youtube.com/c/njcpa?sub_confirmation=1LET'S CONNECT:NJCPA http://www.njcpa.orgFACEBOOK https://www.facebook.com/njscpaTWITTER https://twitter.com/njcpaLINKEDIN https://www.linkedin.com/grp/home?gid=165152INSTAGRAM https://www.instagram.com/thenjcpa

Discover the best 5 sports betting sites and apps. Here’re our picks for the 5 best sports betting sites, apps and sportbooks: 1. Bovada (bonus: $750): https://record.revenuenetwork.com/_4FiJyM5mQu397H-d5Ks7MGNd7ZgqdRLk/1/ 2. BetUS (Bonus: up to $2500): https://record.revmasters.com/_GDJId2cL3emhvo5nC3tZQ2Nd7ZgqdRLk/1/ 3. XBet (Bonus: up to $500): https://record.webpartners.co/_pI3eS84syUppj9fKdCJ9umNd7ZgqdRLk/1/ 4. BUSR (Bonus: up to $1000): https://record.webpartners.co/_pI3eS84syUrYGgllr3Vm5GNd7ZgqdRLk/1/ 5. MyBookie (Bonus: double first deposit): https://record.webpartners.co/_pI3eS84syUo-tw2NZ2I77WNd7ZgqdRLk/1/One of the most critical factors in sports betting success is finding the right sportsbook to bet at. Problem is, there are so many of them. It’s easy to lose time scanning the net for sports betting sites, time which could be better spent winning a few bucks on tonight’s game. Now, to help you quickly find the betting site best suited to your needs, we have tried and evaluated dozens of sites to come up with a list of 5 top sports betting sites. The above are our picks for the 5 best sports betting sites, apps, and sportsbooks. Note that we may earn a small commission from some of the links at no additional cost to you to help support this channel.