S-Corp Business Filing & Calculator

Shield your personal assets with S-Corp limited liability protection and enjoy employment tax savings. Our tax professionals will educate you on the many benefits of filing as an S-Corp as well as walking you through the process step-by-step.

1Select an answer for each question below and we will calculate your S-corp tax savings

A)What is your estimated yearly net income for the business?

$0
$250,000
$500,000

B)What is the salary you would pay yourself?

$0
$100,000
$200,000

Annual Self Employment tax as a Sole Proprietor

$38,250

Annual Self Employment tax as an S-Corp

$19,125( You Save: $19,125 )

Total Savings From S-corp Conversion$19,125

2Review the Costs to Convert to S-Corp

Initial state registration cost to form an LLC / S-Corp
$250
Initial fee to form LLC
$250
Initial S-Corp filing requirements with IRS
$1,159
Annual cost of administering a payroll
$250
Annual state LLC / S-Corp registration fees
$175
Annual tax preparation for S-Corp
$459
Total first year cost of S-Corp administration
$2,543
Net savings from S-Corp conversion
$16,582

3Create Your Free TaxHub Account