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,...
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
The CP-575 letter, your IRS-issued confirmation of your Employer Identification Number (EIN), serves as your business's official identity. It's essential...
7 min read
Hitting the $60,000 profit mark as a solopreneur unlocks significant tax savings through S Corp distributions, helping you cut down on self-employment...
9 min read
Combining an LLC with an S Corp tax election is a savvy strategy for solopreneurs aiming to maximize tax savings while safeguarding personal assets. Once...
16 min read
Converting to an S Corp is more than just a structural change; it's a strategic move that can save solopreneurs thousands annually by reducing...
5 min read
K-1 forms are a key part of managing taxes for solopreneurs running an S Corp or multi-member LLC taxed as an S Corp. Automation makes the process...
3 min read
We have two big Lettuce announcements for you today: We’ve secured $28 million in funding led by existing investor Zeev Ventures, and we’ve acquired the...
5 min read
Welcome to The Wedge, a newsletter for solopreneurs who build with structure and purpose. Every newsletter, we study and share how experienced...
6 min read
Business insurance for S Corps covers the risks your LLC and tax election can't—lawsuits, cyberattacks, and disruptions that could drain cash reserves....
5 min read
Learning how to change LLC to S corp isn't about starting over—it's about layering smarter tax savings onto your existing business. Your LLC keeps...
5 min read
Benefits of S Corp go beyond tax savings. While reducing self-employment taxes is the main draw, S Corporation status also delivers liability protection,...
2 min read
If you're self-employed and considering switching to an S Corporation (S Corp) to save on taxes, you’ve probably heard a common fear: “Won’t that increase...
6 min read
When you work for yourself you’re on the hook to calculate and pay your taxes on your own. But unfortunately how much you owe depends on how much you make...
2 min read
Choosing to become an S Corp can feel like a big leap, especially for freelancers and solo business owners who value flexibility. One of the biggest...