Taxation of Subchapter S-Corporations
The government allows for a reduction in self-employment (FICA) taxes for those who choose the s-corp entity structure. This type of structure is available to US persons and can have up to 100 shareholders. Most states allow the s-corp structure.
The tax savings can be quite significant. However, there are unique challenges associated with this structure. Examples below:
- The IRS frequently requires payroll
- Non-US persons cannot be shareholders
- Some states have an additional tax on s-corps
Whether you are interested in tax optimization consulting (planning) for your s-corp or whether you need your returns filed, feel free to contact us below. Some common services that we provide for s-corps include:
- Formation of the S-corp
- S-corp election services
- Payroll setup & onboarding
- Annual return filings
- Quarterly return filings
- Strategic planning & guidance
Costs vary depending on the specifics of your business, so please provide some context when you reach out.