06-16-2015, 05:24 PM
Hi!
I'm new to this forum, but I see a lot of familiar names from the dgi blogging world. I'm looking forward to continued participation and thanks in advance for any discussion on my situation:
I'm a freelance editor and producer in the television industry and one of my colleagues mentioned he started his own S Corporation. Now, instead of paychecks made out to him, they're made out to his corporation and he pays himself an annual salary and special dividends from the s corp, potentially saving a lot of money in taxes. He's not really a saver or investor, couldn't grasp my questions, and doesn't seem to use the S Corporation to its full abilities. But it got me thinking a lot about incorporating myself. I'm not certain, but I believe one can own individual stocks and bonds and treat the s corp basically as a holding company. My intention would be to build my dividend growth portfolio inside of the s corp from this point on for the rest of my life.
I'm not sure if this is a good idea or if other people do this. Does anyone have any experience or advice in this area? I've been searching a lot online, but haven't quite found the answers I'm looking for about using an S Corp as my main investment portfolio. I'll likely seek counsel from a financial advisor, but wanted to avoid paying them if I'm missing something obvious or if it's a bad idea. I'd love to hear any thoughts, and thanks for reading!
I'm new to this forum, but I see a lot of familiar names from the dgi blogging world. I'm looking forward to continued participation and thanks in advance for any discussion on my situation:
I'm a freelance editor and producer in the television industry and one of my colleagues mentioned he started his own S Corporation. Now, instead of paychecks made out to him, they're made out to his corporation and he pays himself an annual salary and special dividends from the s corp, potentially saving a lot of money in taxes. He's not really a saver or investor, couldn't grasp my questions, and doesn't seem to use the S Corporation to its full abilities. But it got me thinking a lot about incorporating myself. I'm not certain, but I believe one can own individual stocks and bonds and treat the s corp basically as a holding company. My intention would be to build my dividend growth portfolio inside of the s corp from this point on for the rest of my life.
I'm not sure if this is a good idea or if other people do this. Does anyone have any experience or advice in this area? I've been searching a lot online, but haven't quite found the answers I'm looking for about using an S Corp as my main investment portfolio. I'll likely seek counsel from a financial advisor, but wanted to avoid paying them if I'm missing something obvious or if it's a bad idea. I'd love to hear any thoughts, and thanks for reading!