How an S Corp saves on taxes for your LLC
An S Corp is a tax election for your LLC that can lower your taxes and save you money as a business-of-one. We built Lettuce to make S Corps easy.
EXCLUSIVE: Get one month free with the code TAXSAVINGS
Without an S Corp, you’re overpaying your taxes
Whether you have an LLC or file as a Sole Proprietor, your self-employment taxes–which covers things like Social Security and Medicare–are twice what they would be as a W2 employee.
The right business structure could save you
$5,000 - $15,000
a year in taxes
An S Corp is a tax election that unlocks savings
Converting your LLC to an S Corp lets you be both the owner of your company and its sole employee. This means you pay yourself a salary as an employee, and also collect profit as an owner. Those profits aren’t subject to self-employment tax, saving you thousands.
Who is an S Corp for?
You are a business-of-one in the US.
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You are committed to working for yourself.
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You make at least $60,000 a year.
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Here's how an S Corp lowers your self-employment tax
By collecting profits as the Owner of your S Corp, you save thousands on self-employment taxes every year.
*Your actual tax liability depends on more factors (like spouse income or capital gains)
Wondering what you could save?
If you’re a business-of-one making over $100k, you could be overpaying your taxes by as much as $10,000.
Calculate Your SavingsLettuce is the only automated S Corp solution
Money saved
on average for businesses-of-one
Time saved
saved per month
Solutions needed
for your S Corp creation and maintenance
"Having one solution that automates all my bookkeeping and accounting gives me a new sense of confidence and saves me so much time."
Lisa Dini, Marketing Consultant
"I feel at ease knowing that Lettuce is taking care of all the hard legal and accounting work I didn't have time to dig into or understand."
Sam Faillace, Business Owner
“With Lettuce, I’m keeping more of every dollar I earn. The ROI speaks for itself.”
Brenden Grace, Fractional CTO
Lettuce supports your whole business
Incorporation
Incorporation
Lettuce initiates your S Corp setup in minutes and handles all the paperwork.
Banking
Banking
Our system integrates with your bank to seamlessly manage all of your business finances.
Accounting
Accounting
Say goodbye to tax day dread. Lettuce will make sure you never miss a deadline again.
Bookkeeping
Bookkeeping
Our automated expense tracking and financial reports slash hours from your bookkeeping.
Tax Optimization
Tax Optimization
Lettuce works on your behalf all year long to maximize savings and minimize your tax burden.
Payroll (Paying Yourself)
Payroll (Paying Yourself)
S Corps are required to run official payroll for your salary, even if you're the only employee. Lettuce automates it for you.
See how much you could save with an S Corp
Forming an S Corp can help you minimize your taxes and maximize your profits. Use our calculator to find out how much could you be saving.
Calculate Your SavingsFree VIRTUAL EVENT
Join our S Corp Info Session
Join us for a free online workshop to ask questions about how an S Corp could be right for you.
Gabrielle Tenaglia, Speaker
Lettuce Head of Marketing & S Corp Owner
RSVP to Secure a Spot
Reserve your spot now to learn everything you need to know about S Corps.
Start Your S Corp on January 1st
Use the rest of the year to get to know Lettuce. Then, in January of 2025 Lettuce's automated tax and accounting system will help you keep more of what you earn.
Your tax savings are guaranteed with Lettuce or we will refund your fees. Your subscription quite literally pays for itself, and then some.
Limited Time Offer
Lettuce Pro
$299 /mo*
Get free access until January 2025
No credit card required Cancel anytime without penalty 100% tax deductible Free until 2025 Backed by the Lettuce Guarantee* |
FAQs
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How do I know if Lettuce is right for me?
Lettuce is a good fit for you’re dissatisfied with a manual accounting and focusing on deductions as tax strategy.
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 propietor or as an LLC and your business can be new or existing.
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What makes Lettuce unique?
Lettuce 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.
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How much time does it take to set up Lettuce?
It takes about five minutes to provide Lettuce with all of the information that is needed to set up your business as an LLC, file your S Corp Election, and open your business bank account. From there, Lettuce handles all of the paperwork and set up on your behalf.
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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.
Using Lettuce takes minimal time, about thirty minutes every month.
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How does the Lettuce Guarantee work?
We are so confident in our work that if you don’t save on your taxes, we will refund your fees. To learn more, see our Guarantee page.
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How is doing my taxes different with Lettuce?
Instead of crunching at tax time, Lettuce is managing your taxes proactively every day, looking at every dollar of income and expense automatically.
Everything is kept updated in real time throughout the year, so that your balance with the IRS is as close to zero as possible. The work and anxiety around tax season disppears with Lettuce. When the time comes, we will send you all the info needed to file your tax return, including the business tax filing form 1120S and Schedule K1.
Additionally, Lettuce automatically sets aside money from each client payment for your quarterly taxes, making it simple to make your estimated payments.
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How does Lettuce ensure accuracy for my taxes?We guarantee the accuracy of our work. Our team of tax experts uses proven, best-in-class strategies to help you save more. If our work is challenged by the IRS, we’ll be first in line to defend it at no charge to you. If you’re audited by the IRS, Lettuce will assist you through any audit.
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Is my data secure with Lettuce?
We take data security and privacy extremely seriously at Lettuce. Lettuce ensures the highest security standards for your financial data, using encryption and secure protocols. Our approach to product development ensures our customers are in control of their data and that their information is safe at all times.
Additionally, our Lettuce guarantee provides assurance that your taxes will be accurate and that we'll defend our work if challeneged by the IRS. Each bank account is FDIC insured up to $250,000.
Related Resources
Boost Your S Corp Tax Savings with Home Office Deductions
Self-Employment Tax Essentials: Transitioning from Employee to Business-of-one