• 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 an Idaho S Corporation

Setting up an Idaho S Corporation

idaho

You probably don’t need to worry too much about legal liability protection in the smallest of small businesses. Further, tax benefits of incorporation really don’t start to add up until a firm is making profits of probably high five figures or more. (So let’s say $80,000 in profits and above.)

However, at the point a firm is making respectable profits, incorporation should probably be considered. Both as a way to minimize the owners’ risks and as a way to try to avoid some of the self-employment taxes that are otherwise levied on all of the profits.

Note: Self-employment taxes include the 15.3% combined Social Security and Medicare tax levied on roughly the first $120,000 of a business owner’s income as well as the 3-4% Medicare tax levied on the business owner’s income above that $120,000 threshold.

For this reason, we publish two do-it-yourself S corporation kits for Idaho small business owners.  Both kits (their cost equals $37.95) provide detailed steps for setting up an S corporation and include the governing document the small business owner will need for their new LLC or corporation.

Our Idaho S Corporation kit

If you are reading this thinking “Great! Which one should I use?” You should probably opt for the limited liability kit. It has fewer annual requirements, making it well, simpler. Less red tape is a very good thing.

Our LLC kit is available below:

View Cart

Our corporation kit is available here:

View Cart

Money Back Guarantee

Worried it might be waste? Don’t be! We offer a 100% money back guarantee if you are not satisfied with your purchase. Send a refund request e-mail here.

Additional Resources

Making Shareholder Distributions Look Reasonable: It’s all about how you mix your profits between salary and distributions when you operate as an s-corp.

What Are the Advantages of an S Corporation?: Be sure you understand what you are getting into before you make the election.

DPAD: A Big Deduction for Some Small Businesses: You could save big if you manufacture, produce, or grow something.

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

Featured Posts

How IRS audits work

How IRS Audits Work

Audit anxiety is something nearly every taxpayer has in common.  But, have you ever considered how IRS audits actually work? The IRS processes … [Read More...] about How IRS Audits Work

If you got caught in an ERC scam, take these steps to reduce the damage

If You Got Conned in ERC Scam

You wondered at the time whether it was a scam, right? And now you regularly see news reports about ERC scams. Employee retention credit scams, that … [Read More...] about If You Got Conned in ERC Scam

Lottery tax planning can save millions

Lottery Tax Planning for a Billion Dollar Drawing

Okay. This is silly. You’re probably not going to win. But just for fun, let’s talk about lottery tax planning for one of those giant Power Ball or … [Read More...] about Lottery Tax Planning for a Billion Dollar Drawing

Recent Comments

  • Stephen Nelson CPA on Lottery Tax Planning for a Billion Dollar Drawing
  • Morgan on Lottery Tax Planning for a Billion Dollar Drawing
  • Stephen Nelson CPA on Lottery Tax Planning for a Billion Dollar Drawing
  • Stephen Nelson CPA on Lottery Tax Planning for a Billion Dollar Drawing
  • Chanan Goldberg on Lottery Tax Planning for a Billion Dollar Drawing

Archives

Copyright © 2023 Stephen L. Nelson, Inc. · News Pro On Genesis Framework · WordPress