Do I need a business bank account?

Yes. If you run a business, you need to keep your business finances separate from your personal finances. Using a personal account for business activity can put your personal assets at risk and make your books harder to manage.

Do I have to close my existing business bank accounts and move everything to Lettuce?

No. You can keep your existing business checking, savings, and credit card if you want to. Your Lettuce account works alongside them. The two main things you need to do are have your business income come into Lettuce and connect your business credit card to Lettuce for expenses.

Where does my income go — and does it have to stay in Lettuce?

Your income is initially collected in your Lettuce account, but it does not have to stay there. Once income lands, a percentage is used to run payroll. The rest stays in your Lettuce operating account and is available to transfer to your existing business checking or savings right away. You can also take an owner distribution at any time.

Can I keep using my current business credit card?

Yes. Just connect it to Lettuce and your expenses will be pulled in automatically from that point forward, so your books stay up to date without extra manual work.

Can I keep paying for things from my existing checking account?

Yes. You’ll just need to reimburse yourself from your Lettuce account for those expenses. You don’t have to do that one transaction at a time — you can reimburse yourself in bulk.

Is my Lettuce business account FDIC insured?

Yes. Your Lettuce business checking account is FDIC insured up to $250,000 through TransPecos Banks, N.A., or up to $3,000,000 through i3.Bank, depending on your account.

How long does setup take?

Getting started takes about 30 minutes. Your LLC, EIN, and bank account are typically fully set up in as little as 2–3 weeks.

S CORP ELECTION

Maximize Your Tax Savings with S Corp Election

Lettuce helps eligible solopreneurs elect S Corp tax status, reduce self-employment taxes, and simplify ongoing payroll and compliance.

See How It Works

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All-In-One Powerhouse

Run your entire business back office from a single platform. Lettuce unites bookkeeping, payroll, compliance, and S Corp election so you stay tax-smart, stress-free, and always a step ahead.

Tax Savings from Day One

Start putting money back in your pocket immediately. With Lettuce Pro, your savings are guaranteed — or we refund every penny.

Fast-Track to Tax Relief

No waiting until next year. Most elections are complete in just 2–3 weeks, meaning you unlock thousands in tax savings as soon as your setup is complete.

Elite, Expert-Reviewed Process

Every filing is precision-prepared and CPA-reviewed by tax pros with over a decade of experience, so you can file with confidence and focus on growth.

IS IT RIGHT FOR YOU?

Should You Elect S Corp Status?

The short version: an S Corp election starts paying for itself when your net profit clears roughly $80,000–$100,000 a year. Below that, payroll costs and state fees can outweigh the savings.

Here's why the math flips. As a sole proprietor or default LLC, all of your profit is subject to the 15.3% self-employment tax. As an S Corp, you pay yourself a reasonable salary (only the salary carries payroll tax) and take remaining profit as distributions, which don't. The more your profit exceeds a fair salary for your work, the more you keep.

What is an S Corp?

Who Qualifies for S Corp Status

If you're running your business as an LLC, check whether you meet these IRS requirements before you elect S Corp tax status.

Not sure if you qualify? Lettuce reviews your numbers and confirms eligibility before you file anything — no guesswork, no wasted paperwork. If election isn't the right call yet, we'll tell you that too.

Start My S Corp Election

	Your business is a domestic entity, meaning an LLC or corporation formed in the U.S.
	You have no more than 100 shareholders (LLC members count as shareholders for this purpose).
	All shareholders are U.S. citizens or residents, with no partnerships, corporations, or non-resident aliens.
	Your business issues only one class of stock (or membership interest, for an LLC).
	Your business isn't an ineligible type, such as certain financial institutions or insurance companies.

Smart Assessment & Strategy

Lettuce analyzes your business financials to ensure S Corp election is right for you and calculates your potential tax savings.

Complete Professional Filing

Lettuce prepares and submits IRS Form 2553 on your behalf, along with any required state-level filings - an all-in-one solution, so you never touch a form yourself.

Immediate Tax Savings

Start reducing your self-employment taxes right away. Most clients are fully set up within 2–3 weeks and begin capturing tax savings immediately.

The Lettuce-Back Guarantee

Your tax savings are guaranteed with Lettuce Pro* — or we'll refund your fees. The subscription pays for itself through tax savings, and then some. Plus, Lettuce is completely tax deductible.

*Lettuce calculates your estimated yearly savings. If you don't meet or exceed this number, you'll get a full refund, hassle free. S Corp election and ongoing management included with Lettuce Pro and Premium plans.

Bhumieka Patel

SEO & Growth Strategist | Bhumi Strategy

"When I saw the tax savings potential of Lettuce setting me up as an S Corp, it felt like a real financial lifeline”

Read Story

Susan Jones

Executive Coaching | Growing Edge Leadership

"As a consultant, Lettuce has let me rise to the occasion. I finally feel legit as a business owner.”

Read Story

Blake Hunter

Real Estate Agent | Intero Real Estate

"Lettuce let's me focus on the sales and client side of my business without having to spend time on the financial side. Everything runs through Lettuce: Payroll, Tax withholding, 1099s to my vendors, etc.”

Read Story

Ready to Start Saving on Taxes?

Join thousands of business owners who've reduced their tax burden with Lettuce.

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Lettuce-Back Guarantee

Maximize Your Tax Savings with S Corp Election

The Easiest Way to Unlock Thousands in Tax Savings

All-In-One Powerhouse

Tax Savings from Day One

Fast-Track to Tax Relief

Elite, Expert-Reviewed Process

Should You Elect S Corp Status?

Who Qualifies for S Corp Status

How Lettuce Makes S Corp Election Simple

Smart Assessment & Strategy

Complete Professional Filing

Immediate Tax Savings

The Lettuce-Back Guarantee

Results from real businesses-of-one

Bhumieka Patel

Susan Jones

Blake Hunter

Frequently Asked Questions

What does Lettuce do to file my S Corp election?

Who should elect S Corp status?

How much can I save with an S Corp election?

Do I need to form a new business entity to elect S Corp status?

What is Form 2553, and when is it due?

Can I still elect for this year if I missed March 15?

Related Reading

What is an S Corp? A Complete Guide

S Corp Requirements Made Simple for Businesses-of-One

5 S Corp Formation Options for Solos to Consider

Ready to Start Saving on Taxes?