Reporting for Solopreneurs, Made Simple

Reporting FAQs

• How does reporting connect to tax savings?

  Your financial data feeds directly into S-corp payroll calculations and deduction tracking, so savings aren't theoretical. When Lettuce calculates your reasonable salary using federal compliance guidelines, that shows up in your dashboard immediately. Monthly tax payments through payroll mean no quarterly estimates and fewer year-end surprises. Because your books are current and organized, it's also easier to spot strategies that may reduce taxable income depending on your situation, like business use of home, business use of vehicle, health insurance premiums, or retirement contributions.

• Can Lettuce handle my contractors and 1099s?

  Yes, pay contractors directly through ACH and Lettuce helps prepare and e-file 1099-NEC forms when you cross $600 in services. The platform tracks payments automatically and handles the January 31 deadline for getting forms to recipients and filing with tax authorities. Payments to corporations are generally exempt, except for legal and medical services.

• What if my income is inconsistent month to month?

  That's normal for a lot of solopreneurs — consultants, creatives, therapists, and fractional operators rarely get the same paycheck twice. Lettuce runs compliant payroll even in low-income months, down to $1 if needed to maintain your S-corp status. When income lands, the system adjusts your salary calculation and automated monthly withholdings accordingly, so your financial picture stays readable even when revenue is uneven.

• Does Lettuce cover my business and personal returns?

  Yes, for Pro and Premium members. Lettuce files your Form 1120-S, Schedule K-1, W-2, and any required 1099s. Pro members also get personal tax preparation included when you opt in by March 1. The Year-end True Up process ensures your W-2 and tax returns reflect your complete financial picture, including any activity that happened before you joined Lettuce or outside the platform.

• What reports do I get, and how often?

  Lettuce gives you the core financial reports most businesses-of-one actually need: a profit and loss statement, balance sheet, and cash flow statement. The platform keeps these updated as your transactions flow in, so you can check in on your business without waiting for a year-end cleanup. You'll also see reporting that goes beyond standard accounting, like tax projections and income allocation visibility — a live view of what's set aside for salary and taxes versus what's available to spend, save, or distribute.

• What is the Money Map?

  The Money Map is your visual guide to where your business income goes after it lands in Lettuce. Instead of one big account balance that leaves you guessing, it shows how funds are organized across the system, including what's reserved for salary and taxes and what remains available for expenses or owner distributions. Think of it like giving every dollar a job before it disappears on you.

• Can I use my Lettuce P&L for a mortgage or loan application?

  Lettuce gives you access to a real profit and loss statement you can download and use as part of your documentation. Whether a lender accepts that P&L on its own depends on the lender, the loan type, and their underwriting requirements — some may also ask for tax returns, bank statements, or additional business documentation. But when your reporting is already clean and ready to go, you're in a much stronger position to move fast.