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 know the difference 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
We're a full-service, outsourced accounting firm that helps small businesses achieve truly better outcomes. We roll all of our services together into an "outsourced accounting service", so we can provide a one-stop-shop solution. Here are some of the services that are included in our outsourced accounting service.
