{"type":"video","version":"1.0","html":"<iframe src=\"https://www.loom.com/embed/4c113a0d7cb849fd90a080c99d414294\" frameborder=\"0\" width=\"1280\" height=\"960\" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>","height":960,"width":1280,"provider_name":"Loom","provider_url":"https://www.loom.com","thumbnail_height":960,"thumbnail_width":1280,"thumbnail_url":"https://cdn.loom.com/sessions/thumbnails/4c113a0d7cb849fd90a080c99d414294-d02dbfefbbc111e8.gif","duration":77.248,"title":"S-Corp Mistakes Business Owners Make","description":"This Loom explains when and how to use S-corp status, and warns about common setup mistakes. The speaker notes that an S-corporation can save taxes in the right situation, but people often misunderstand how it works. One major error is electing S-corp status and then not running payroll. Another is paying a compensation amount that feels right instead of determining a reasonable salary, since the IRS expects S-corp owners who work in the business to be paid through payroll before taking distributions."}