Forming the entity is the first of several steps, and on its own it does very little for your tax position. We handle the sequence:
Electing S-corp status can save real money once profit reaches a certain level, and can cost you money below it, because it obliges you to run payroll and file a separate return. The answer depends on numbers we can look at together. We prepare a lot of 1120S returns, and we will tell you plainly when the election is not yet worth it.
Setup starts at $550. Members save: $75 off with Gold, $100 off with Platinum, $150 off with Titanium. Unemployment and payroll account setup starts at $150 and is available from Gold up.
Bring it in. We will check that the EIN, the elections and the registrations line up with what you are actually doing, which is where do-it-yourself formations most often come apart.
Tell us what your return looks like and we will tell you which membership covers it — no obligation.
Book a free consult (623) 257-3048The state filing and EIN are usually quick. The elections have deadlines tied to your tax year, which is the part worth getting right rather than fast.
No — a sole proprietor deducts ordinary and necessary business expenses on Schedule C. An entity is about liability and, with an election, about how the profit is taxed. It is worth understanding the difference before paying for one.
Ask us at the consult — call (623) 257-3048 and we will tell you what we can and cannot cover.
A 30-minute consultation is free, and you'll leave it knowing what you'd pay and what we'd change.
Arizona: (623) 257-3048 · Alabama: (251) 202-9789