7 min read
Can I Use an S Corp to Pay for Health Insurance?
S Corp owners can deduct health insurance premiums through proper payroll and W-2 reporting, saving on taxes while staying compliant effortlessly.
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.
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.
11 min read
Treating your solo venture as a real business, rather than just a side project, opens the door to significant tax benefits, stronger financial protection,...
5 min read
Tracking a complete business expenses list can unlock thousands in tax savings that most solopreneurs miss every year. From home office costs and...
6 min read
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...
8 min read
Yes, you can elect S Corp status mid-year, and for solopreneurs earning $80,000+, it's a smart move that starts saving you thousands immediately after the...
6 min read
S Corp owners can unlock substantial tax savings by expertly balancing their salary with distributions, allowing them to sidestep the hefty 15.3% payroll...
7 min read
By default, a single-member LLC is a 'disregarded entity,' providing solopreneurs with liability protection while allowing them to report business income...
4 min read
A balance sheet isn't exclusive to large corporations; freelancers and creatives can gain invaluable insight into their financial health by using one,...
5 min read
Learning how to calculate gross margin gives solopreneurs instant clarity on their business’s profitability. This simple formula reveals if your pricing...
6 min read
As an S Corp owner, optimizing your salary-to-distribution split can lead to significant tax savings, reducing your self-employment taxes by thousands...
5 min read
The CP-575 letter, your IRS-issued confirmation of your Employer Identification Number (EIN), serves as your business's official identity. It's essential...
5 min read
Missing the March 15 S Corp deadline triggers automatic penalties of $245 per shareholder per month — potentially costing solo owners nearly $3,000....
8 min read
Sole proprietorship vs S Corp comes down to one thing: keeping more of what you earn. As a sole proprietor, you pay self-employment tax on every dollar of...
6 min read
For most solopreneurs, understanding your fiscal year is straightforward: the IRS typically requires using a calendar year (January 1 to December 31),...