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FAQs

• How do I know if Lettuce is right for me?

  Lettuce is a good fit for new or existing businesses-of-one that are looking for a more automated and strategic approach to estimating, planning for and paying their taxes--all while taking advantage of the best tax saving strategies available.

  Lettuce is specifically for businesses-of-one based in the U.S., focused on selling services--consulting, creative work, software development, therapy, legal services are all great examples. You can be set up as a sole proprietor or as an LLC and your business can be new or existing.

• What makes Lettuce unique from other solutions for businesses-of-one?

  Lettuce Pro is the only automated S Corp solution. No other platform offers this uniquely specialized guidance, and automates the work for you.

  First, we exclusively specialize in taxes and accounting for businesses-of-one. Our recommendations are tailored to your needs, and personalized for each individual business based on what you earn, what you spend, and what your goals are.

  Second, we do it all with modern technology. There is no off-shore accountant group involved, just a team of dedicated technology professionals, working hard to solve your challenges. With Lettuce you can focus on running your business instead of spending your time on bookkeeping and accounting.

  Not yet ready for an S Corp? Lettuce Grow offers all the benefits of tax planning support for LLCs not yet ready for an S Corp.

• How much time does it take to set up Lettuce?

  It takes about five minutes to provide Lettuce with all of the information needed to set up either a Lettuce Grow or Lettuce Pro account. with that information we’ll set your business up with the right structure, tax filing status and a new business bank account. Once you sign your documentation, we handle all of the paperwork on your behalf and will keep you updated along the way.

• Is Lettuce difficult to use?

  Lettuce is simple and intuitive. There's no complex software to learn or complicated functionality, so you can focus on your business and not your accounting.

• How often do I have to use Lettuce?

  This depends a bit on how you want to run your business.

  You can login as often as you like to look at your income and how your deductions are being classified, or just check-in once a month. For our Lettuce Pro customers, we will process and pay your taxes and ‘reasonable salary’ every month. You’ll be able to review your completed payroll within the platform once these payments are processed. At the end of the year, Lettuce will balance your salary and owner's distribution based on your total income, and prepare your business tax return for you to approve. All of this takes minimal time, about thirty minutes every month.

• Do I still need my accountant or CPA?

  Lettuce Pro takes care of all of your business taxes and bookkeeping. At the end of the year, Lettuce will file your business taxes, and provide you with a W-2 and a K-1 (documenting your owner’s distribution) to help you file your personal taxes. 

  If your personal taxes are more complex, and you have assets beyond your W-2, you may still want to have an accountant or CPA help you file. However, the time and cost will be dramatically reduced because your business taxes will already be completed. Alternatively, if you would like Lettuce to file your personal taxes (1040) for you, we can do this for an additional $500/yr fee.

  Lettuce Grow customers may also benefit from being able to file their personal taxes online using Lettuce’s digital tax portal.

• Can I use Lettuce if my business has employees or freelancers?

  Hiring freelancers is fine if you have an S Corp with Lettuce. These are people you'd pay with a 1099.

  Lettuce does not support having W2 employees.

  If you have a specific question about your scenario, just reach out at support@lettuce.co

• What happens if I want to end my Lettuce subscription, or stop filing as an S Corp?

  You are free to end your Lettuce subscription at any time.

  Your S Corp and LLC belong to you, even after you terminate your Lettuce subscription. You are still responsible for compliance and taxes of your business entity.

  Discontinuing an S corp involves following legal dissolution procedures. You will need to submit a statement of revocation to the IRS service center where you file your annual return.

  You can find the IRS instructions here.

• My spouse and I both consult. Should we have separate S Corps?

  It depends if you're in the same line of business or not.

  If you have two separate businesses with two separate customer-bases and subject matter, you should open two separate companies (LLC) and make and S-election separately for each. 

  If both of you provide the same type of consulting to the same type of customers in the same subject matter, you can open one LLC), make one S-election, and have both spouses be owners.

  Alternatively, you can have one spouse be the owner and the other be a contractor/employee of the business. Lettuce supports both of these options.