Should you be an S-Corp? Will you save in taxes? We specialize in helping small business owners, who make net profits higher than $80,000, convert to an S-Corp, stay compliant & maximize its benefit.
S-Corps can often lead to dramatic tax savings for small businesses, which can lead to remarkable improvements in profitability & wealth.
It’s not enough to just convert your sole proprietorship to an S-corp, you’ll want to make sure that you make wise choices to abide by the IRS rulings on reasonable salaries, document requirements & 1120S tax returns.
We'll help you compare LLC Sole Prop taxation to S-Corp taxation, so you can understand the differences and choose correctly.
The most important part of ensuring you're making wise decision with you S-Corp election, is to manage your "reasonable salary". We work alongside businesses to ensure they're being as aggressive as possible, while being full of integrity.
• 12.4% Social Security Tax (up to limit of $147k)
• 2.8% Medicare Tax
We see businesses save between $3,000 and $15,000 a year, just by setting up and being wise with S-Corp strategies.
We'll help you make the right decisions about salaries, while simultaneously helping invest your tax savings wisely.
You will possibly reduce what is subject to the 12.4% social security tax.
S-Corps can often mitigate the income subject to the 2.9% medicare tax as well.
