Many small businesses run just fine as a sole proprietorship, LLC, or partnership without the additional reporting requirements of an s-corporation. But if you find yourself getting beat up on self-employment tax, an s-corp may be right for you and your business’ needs.
The move to an s-corp will allow you to save a whopping 15.3% on a portion of your profits. What’s better than earning profits? Saving them!
Our Michigan S Corporation kit
Michigan small business owners interested in the s-corporation have two options — one uses an LLC as a base entity while the other uses a corporation. Most of our clients go the LLC route as there is less red tape this way, but we do have additional resources available if you aren’t sure what may work best in your situation.
Our LLC to s-corp kit, customized to be set up in Michigan, is available below:
If you want to use a traditional corporation as the base for your s-corporation, alternatively, you can purchase that kit by clicking the button below:
We should note each kit includes the following: instructions on how to set up your entity of choice, get an EIN for tax/banking purposes, sample documents to use as Articles of Organization/Incorporation, and how make the s-election.
Money Back Guarantee
All of our state kits come with a money back guarantee. If you buy one and realize it might not be the right fit you (and it happens), just send a message to steve.nelson@stephenlnelson.com and we’ll be happy to refund your money.
Additional Resources
C Corporation vs. S Corporation, A Short Primer: Get a better understanding of how c- and s-corporations are taxed.
Five Best Small Business Tax Loopholes: If you are here, you probably already know what #1 is…
Pension Deductions Versus Payroll Taxes: As an s-corporation, you’ll have to do payroll and you should be saving for retirement, but is bumping your salary worth it?