5 min read
S Corp Late Filing Penalty: What It Really Costs and How to Dodge It
Missing the March 15 S Corp deadline triggers automatic penalties of $245 per shareholder per month — potentially costing solo owners nearly $3,000....
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
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),...
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...
11 min read
Switching to S Corp status is a game-changer for solopreneurs, and here's why: once your business profits surpass $80,000 annually, you're in a prime...
5 min read
Establishing payroll as an S Corp solopreneur isn't just about checking off compliance boxes; it's a savvy strategy that empowers you to save thousands by...
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...
6 min read
Self-employed tax brackets work differently than W-2 employees face. You're hit with both federal income tax and a flat 15.3% self-employment tax on most...
7 min read
Learning how to calculate adjusted gross income is essential for freelancers who want to lower their tax bill and unlock valuable credits. AGI is your...
7 min read
S Corp distributions are a smart way for solopreneurs to save thousands each year by avoiding the 15.3% self-employment tax on part of their income. The...
5 min read
Automating S Corp deduction tracking helps solopreneurs save thousands yearly by catching every eligible write-off and keeping audit-ready records. With...
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...