• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Evergreen Small Business

Actionable Insights from Small Business CPAs

  • Home
  • Small Business FAQ
  • Monographs
    • Maximizing PPP Loan Forgiveness
    • Preparing U.S. Tax Returns for International Taxpayers
    • Maximizing Sec. 199A Deductions Monograph
    • Setting Low Salaries for S Corporations
    • Small Business Tax Deduction Secrets
    • Real Estate Tax Loopholes & Secrets
    • Preparing Form 3115 for the Tangible Property Regulations
    • Small Businesses and the Affordable Care Act (Obamacare)
    • Five Minute Payroll Monograph (2019 Edition)
    • Download Your Free Copy of the Thirteen Word Retirement Plan
    • Business Planning Workbook
    • Sample Corporate Bylaws
    • LLC Operating Agreement
    • Joining Our Affiliate Program
  • Our Bloggers
  • Free LLC Formation Kits
    • Alabama LLC
    • Alaska LLC
    • Arizona LLC
    • Arkansas LLC
    • California LLC
    • Colorado LLC
    • Connecticut LLC
    • Delaware LLC
    • Florida LLC
    • Georgia LLC
    • Hawaii LLC
    • Idaho LLC
    • Illinois LLC
    • Indiana LLC
    • Iowa LLC
    • Kansas LLC
    • Kentucky LLC
    • Louisiana LLC
    • Maine LLC
    • Maryland LLC
    • Massachusetts LLC
    • Michigan LLC
    • Minnesota LLC
    • Mississippi LLC
    • Missouri LLC
    • Montana LLC
    • Nebraska LLC
    • Nevada LLC
    • New Hampshire LLC
    • New Jersey LLC
    • New Mexico LLC
    • New York LLC
    • North Carolina LLC
    • North Dakota LLC
    • Ohio LLC
    • Oklahoma LLC
    • Oregon LLC
    • Pennsylvania LLC
    • Rhode Island LLC
    • South Carolina LLC
    • South Dakota LLC
    • Tennessee LLC
    • Texas LLC
    • Utah LLC
    • Vermont LLC
    • Virginia LLC
    • Washington LLC
    • West Virginia LLC
    • Wisconsin LLC
    • Wyoming LLC
  • S Corporation Kits
    • Alabama S Corporation
    • Alaska S Corporation
    • Arizona S Corporation
    • Arkansas S Corporation
    • California S Corporation
    • Colorado S Corporation
    • Connecticut S Corporation
    • Delaware S Corporation
    • Florida S Corporation
    • Georgia S Corporation
    • Hawaii S Corporation
    • Idaho S Corporation
    • Illinois S Corporation
    • Indiana S Corporation
    • Iowa S Corporation
    • Kansas S Corporation
    • Kentucky S Corporation
    • Louisiana S Corporation
    • Maine S Corporation
    • Maryland S Corporation
    • Massachusetts S Corporation
    • Michigan S Corporation
    • Minnesota S Corporation
    • Mississippi S Corporation
    • Missouri S Corporation
    • Montana S Corporation
    • Nebraska S Corporation
    • Nevada S Corporation
    • New Hampshire S Corporation
    • New Jersey S Corporation
    • New Mexico S Corporation
    • New York S Corporation
    • North Carolina S Corporation
    • North Dakota S Corporation
    • Ohio S Corporation
    • Oklahoma S Corporation
    • Oregon S Corporation
    • Pennsylvania S Corporation
    • Rhode Island S Corporation
    • South Carolina S Corporation
    • South Dakota S Corporation
    • Tennessee S Corporation
    • Texas S Corporation
    • Utah S Corporation
    • Vermont S Corporation
    • Virginia S Corporation
    • Washington S Corporation
    • West Virgina S Corporation
    • Wisconsin S Corporation
    • Wyoming S Corporation
  • Contact Nelson CPA
You are here: Home / S Corporation Kits for All Fifty States / Setting up a Tennessee S Corporation

Setting up a Tennessee S Corporation

tennesseeIf you’re a Tennessee entrepreneur or business owner operating a profitable small business, you probably ought to consider forming either an LLC or corporation and then electing to use the Subchapter S tax accounting rules for your business.

Here’s why: If you’re not operating as an s-corporation, you’re paying not only federal and state income taxes on all your business profits, but you’re also paying hefty self-employment taxes on those profits too. Those self-employment taxes run roughly 15% on the first $120,000 of business profit an owner enjoys and then roughly 3%-4% on any profits in excess of the $120,000 threshold.

However, you can operate your firm as an s-corporation and this lets you sidestep some of (and oftentimes, a lot of) the self-employment taxes you pay.

Sound interesting? We’ve got two do-it-yourself kits that Tennessee small business owners can use. Both kits provide complete instructions for setting up your s-corporation and supply sample operating agreements or corporate by-laws. With one of these kits, you should be able to get your s-corporation set up, literally, with a few minutes of effort.

Note: Some people like to use a corporation as the platform for the s-corp because corporations are, well, traditional. But many accountants and attorneys recommend you use an LLC as the base for an s-corporation. An LLC should give you just as much legal protection, should mean less red tape, and may give you additional tax flexibility—especially as you start your  “incorporated” life…

Our Tennessee S Corporation kit

As mentioned above, we typically recommend the LLC version of our s-corporation kit which you can acquire by clicking the button below:

View Cart

If you prefer to go the more traditional route, the corporate version is available here:

View Cart

Each kit will come with a sample operating agreement (for LLCs) or bylaws (for corps) as well as instructions to set up with entity and make the s election.

Money Back Guarantee

We do offer a money back guarantee on every kit we sell.  If you aren’t satisfied with your purchase or after reading find it still too much to do on your own, send us a request for refund.

Additional Resources

How Are Corporations Taxed?: Before diving into this new entity structure, it’s a good idea to understand how each is taxed.

Quick and Dirty Payroll for One-person S Corps: Not only can you set up your own s-corporation with our instructions, we can help with payroll too!

Primary Sidebar

Welcome

Nelson CPA publishes this blog to help and encourage small business owners. Click here to learn more about our firm.

Need to help clients with their PPP loan forgiveness applications?

Updated for 2019 tax year changes and now available in print from Amazon!!

Maximizing Sec. 199A Deductions

International tax issues?

Preparing US tax returns for international taxpayers

Maximize S corporation tax savings

Setting Low S Corporation Salaries

Free retirement planning help

Picture of Thirteen Word Retirement Plan book

Search

Featured Posts

Fixing 199A Deduction Errors is awkward but a good idea.

199A Deduction Errors Cost Small Businesses Big Refunds

The Section 199A deduction lets business owners avoid federal income taxes on that last twenty percent of their business income. Which sounds … [Read More...] about 199A Deduction Errors Cost Small Businesses Big Refunds

Roth alternatives exist blog post

Ten Best Roth Alternatives

All the talk about tax law changes, including changes to the Roth rules and then the prospect of higher tax rates for some, seems to be jacking … [Read More...] about Ten Best Roth Alternatives

How Pass-through Profit Distributions Get Taxed

Why Profit Distributions Usually Don’t Get Taxed

We encounter a common misconception from flow-through business owner clients  every year and I want to try and clear the air. That misconception? … [Read More...] about Why Profit Distributions Usually Don’t Get Taxed

Recent Comments

  • Stephen Nelson CPA on 16 Ways of Qualifying for Employee Retention Credits
  • Chris on 16 Ways of Qualifying for Employee Retention Credits
  • Jerry Seo on 16 Ways of Qualifying for Employee Retention Credits
  • Stephen Nelson CPA on 16 Ways of Qualifying for Employee Retention Credits
  • Stephen Nelson CPA on 16 Ways of Qualifying for Employee Retention Credits

Archives

Copyright © 2022 Stephen L. Nelson, Inc. · News Pro On Genesis Framework · WordPress