Discover how to maximize an S-Corp and get the most tax reduction from your business entity.
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.
Sole proprietorships will owe self employment tax on 100% of their net income.
• 12.4% Social Security Tax (up to limit of $147k)
• 2.8% Medicare Tax
