HOW TO Transition from S-Corp to C-Corp (and why)
When you are significantly reinvesting in your business, rather than paying out to the company owners, then the C-Corp structure is likely more beneficial to you as the business owner. Corporate income tax rates are a flat 21% whereas individual tax rates on pass-through income are likely much higher.
To calculate the tax savings, it will be the difference between the individual owner tax rate and the corporate tax rate.
How much should you have been saving with this tax strategy? We typically see $5,000 - Unlimited!
Another bonus? This can be applied to current and future years!
Give us a call to talk through more tax and business strategies to help YOUR business grow!
Direct: 407-573-5166