People ask me all the time, “Why do you beat the s-corp drum so loud?” Because it is a fairly easy option that can save a lot of small business owners on taxes. It’s that simple.
If you are already running your business and have generated some profits you have probably been introduced to our arch-rival: self-employment taxes. They can seriously eat away at profits. If you have been or expect to have in the six figure (or upper five figure) profits, you can really save as an s-corporation. This is because you can avoid up to 15% of those self-employment taxes on the first $120,000 of income earned.
Our Nebraska S Corporation kit
You can certainly go to an attorney or accountant, perhaps one of those online services, to get help classifying your business endeavor. Those options have their pros and cons. But you don’t have to do that. You can probably do it yourself. Our kit shows you how.
It’ll walk you through setting up the entity (including governing documents like operating agreements or bylaws), filing the necessary forms with the state of Nebraska, getting an EIN, and an IRS form to make the Subchapter S election. We even include examples of filled out forms if you are more visual.
Click the button below to purchase our LLC version:
Or, alternately, click the button below to purchase and download the corporation version of the S corporation kit:
Note: We recommend you to use the LLC kit as there are generally fewer filing requirements.
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Send an e-mail to steve.nelson@stephenlnelson.com if you are unsatisfied with the content for any reason. We’ll refund the purchase price.
Additional Resources
Accounting System Recommendations for Novice Bookkeepers: Record-keeping or accounting not your strong suit? Check out some options.
DPAD: A Big Deduction for Some Small Businesses: Do you manufacture, produce, or grow something? See if you may be entitled to a big tax deduction.