5 min read
Disadvantages of Sole Proprietorship: How Much Are You Really Leaving on the Table?
The disadvantages of sole proprietorship hit hardest where it counts: your wallet and your risk exposure. Paying the full 15.3% self-employment tax,...
The content on this blog is created by the expert team at Lettuce Financial, a company that specializes in automated tax and accounting solutions for solopreneurs.
Our content team includes tax experts, and experienced industry leaders who provide practical guidance based on real-world experience helping thousands of solopreneurs optimize their tax strategies through our automated S-Corp platform.
5 min read
The disadvantages of sole proprietorship hit hardest where it counts: your wallet and your risk exposure. Paying the full 15.3% self-employment tax,...
11 min read
Starting an LLC protects your personal assets from business liabilities while giving you tax flexibility to optimize earnings as you grow. The formation...
5 min read
How long does it take to get an LLC? It used to mean weeks of paperwork and uncertain state processing times, but modern automation has transformed the...
6 min read
Your operating agreement isn't just compliance paperwork. It strengthens asset protection, proves you're running a legitimate business entity, and creates...
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Setting a reasonable salary for your S Corp is essential for maximizing tax savings while staying within IRS guidelines. Paying yourself too much or too...
6 min read
The 2% rule for S Corp owners unlocks powerful tax advantages most solopreneurs miss. As a more-than-2% shareholder, you can turn health insurance...
6 min read
S Corp status typically becomes financially worthwhile for solopreneurs once annual business income reaches around $80,000, because it reduces...
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True profitability comes from knowing exactly what you keep after every expense and tax, not just watching revenue or your bank balance. Manual tracking...
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Combining S Corp status with optimized vehicle deductions can put thousands back in a solopreneur’s pocket, proving that strategic planning is what truly...
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Separating business and personal finances protects your assets, simplifies tax time, and unlocks serious savings through strategies like S Corp elections....
7 min read
S Corp owners can deduct health insurance premiums through proper payroll and W-2 reporting, saving on taxes while staying compliant effortlessly.
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Treating your solo venture as a real business, rather than just a side project, opens the door to significant tax benefits, stronger financial protection,...
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Tracking a complete business expenses list can unlock thousands in tax savings that most solopreneurs miss every year. From home office costs and...
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From formation to financing, see how S-Corp solopreneurs can build business credit that protects personal assets and paves the way for sustainable,...
6 min read
What is equity in business? It's everything your business owns minus what it owes. Understanding equity helps you make smarter financial decisions and...