Welcome to my website!
I am an IRS Enrolled Agent, specializing in small business & personal income tax preparation. I am extremely proud of the high-quality service I provide. I will always be the person working on your case. I specialize in S Corps, Schedule C and LLC.
If you are a Sole Proprietor filing a Schedule C for your business, and you are consistently netting a profit of $20,000 or more, you should talk to me about filing as an S Corporation. The purpose is to save on Self Employment Tax, which is 15.3% of your profit on Schedule C.
If you have a profit of $20,000, your self-employment tax is $3,060. This is in addition to Ordinary Income Tax.
With the same $20,000 profit, we file an S Corp tax return and pay yourself a salary of $10,000. The self-employment tax, which is social security and medicare tax, will now be $1,530, and you will take a distribution of the remaining $10,000 without paying self-employment tax.
Your net take home cash increases $1,530.
The reason I recommend a profit of $20,000 is that the tax savings will be $1,530, and the fee for completing your S Corp return and personal return is $1,000. This will still leave you $530 ahead in cash.
Please call me and we can talk further to discuss this tax savings!
Please feel free to browse my website to see other services I provide. When you are ready to learn more about what I can do for you, I encourage you to contact me. Available Evenings and Weekends.