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E
eeburns
October 27, 2021
Question

Save on taxes with S corp?

  • October 27, 2021
  • 1 reply
  • 0 views

Is it best to create a S corp as a self-employed individual?  I understand that you're taxed on less than filing as a sole-proprietor?

    1 reply

    Critter-3
    Critter-3
    October 27, 2021

    Before you do anything you need to get educated on all the rules of filing an S-Corp return which will require you to file quarterly/annual payroll tax reports along with a separate tax return.  

     

    Before you do anything get educated on the possibilities  ... possibly consult a local professional.

     

    https://www.irs.gov/businesses/small-businesses-self-employed/starting-a-business

     

    Here is some more info that you can review regarding entity choices: Beginner's Tax Guide for the Self-Employed

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