6 min read
Single-Member LLC Tax Benefits: How to Stop Leaving Money on the Table
A single-member LLC protects your personal assets while opening the door to serious tax savings. Once your business income reaches around $80,000,...
Have questions? Looking for answers? You can find them here.
6 min read
A single-member LLC protects your personal assets while opening the door to serious tax savings. Once your business income reaches around $80,000,...
3 min read
This article was originally published in Accounting Today and written by Ran Harpaz, CEO of Lettuce, and Diane Kennedy, Head of Tax Education at Lettuce.
6 min read
Sole proprietorship taxes mean handling quarterly payments, self-employment tax, and deductions entirely on your own. Most solopreneurs learn through...
6 min read
December is your last chance to make year-end tax moves that could save thousands. Smart solopreneurs maximize retirement contributions, home office...
5 min read
While “new year, new finances” probably doesn’t top your list of new year mantras, it’s an undeniably helpful mindset to have as a solo business owner....
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Missing the March 15 S Corp deadline triggers automatic penalties of $245 per shareholder per month — potentially costing solo owners nearly $3,000....
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...
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...
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...
5 min read
Missing an S Corp tax deadline costs you more than just penalty fees; it means losing out on cash flow optimization, reinvestment opportunities, and...
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Do S Corps get 1099s? Generally, no. When you elect S Corp status, you shift from contractor to business owner. Your clients stop sending 1099-NECs, and...
8 min read
Ask any solopreneur what intimidated them most about self-employment (or has kept them from pursuing self-employment altogether) and the vast majority...
5 min read
This is a question we hear all the time from our Lettuce customers. Yes, an S Corp can technically make investments using its corporate funds, similar to...