We do a lot of work with s-corporations. Why? They make a lot of sense for a lot of different types of businesses. One-man consultants? Definitely. A family-owned construction company? You bet. If you are already running your own small business that you report on Schedule C of your 1040, do us a favor. Pull out last year’s tax return. Look at the second page and find line 57. If the dollar figure on that self-employment taxes line is close to or above $10,000, an s-corp will likely save you in taxes next year.
Our Wisconsin S Corporation kit
In order to operate as an s-corp, you first need an eligible entity. What the heck is an eligible entity? Either an LLC or corporation must be set up and then submit for Subchapter S status with the IRS. Our kit walks you through the process of setting one of these entities up as well as how to make that s election. As an added bonus, we include formation documents (articles of organization or corporate bylaws) to form a clear structure.
Regarding the decision to organize as a corporation or LLC, we typically side with the limited liability company. This is because they have a bit more tax flexibility (meaning they can operate as a sole prop or partnership) while still protecting personal assets. This LLC kit is available here:
If you decide to go with a corporation, that kit is available directly below:
Money Back Guarantee
Each kit comes with a 100% money back guarantee. Should you not be satisfied with it for any reason, send us a line at steve.nelson@stephenlnelson.com and we will issue a refund.
Additional Resources
What Tax Returns Are Required for a New Small Business?: Make sure you don’t miss the filing deadlines for any of these new forms you must file as an s-corp.
Should You Use an S Corporation for a Sideline or Part-time Business?: Does it make sense if I’m keeping my day job?
Making Shareholder Distributions Look Reasonable: Be sure to have the right balance between your payroll and profit distributions.