Late S corp returns have their own cost: under IRC 6699 the penalty runs per shareholder for each month the 1120-S is late, up to 12 months, unless reasonable cause is shown. Closing the books early is the cheapest protection. Do most of your clients close monthly? #SCorp

Helpful topic. One caution on any "exact point": the S corp math turns on a reasonable salary, which the IRS treats as facts-and-circumstances (duties, time, comparable pay), plus payroll and filing costs. Break-even differs by owner, so run your own facts, not a threshold. #SCorp

No owner salary? Your margins are flattering you. Draws vs. salary vs. S corp pay for Houston owners, w/ Drs. Charlie & Paige Ward.

https://medium.com/@jakemlatimer/how-houston-business-owners-should-pay-themselves-draws-salary-and-s-corp-distributions-ebd6fa4a422b

#SmallBusiness #SCorp

Entity choice and tax elections aren’t the same conversation — and pay habits that worked as a disregarded LLC don’t automatically carry over after an S election.
Curious where you are in that decision?
https://www.blueprintadvisorstx.com/contact/
#SCorp #SmallBusinessTax

Choosing between an LLC and S Corp impacts business growth. Compare key differences to make a more informed decision. https://tinyurl.com/3waypuyt

#LLC #SCorp #businessgrowth