Picked an S-Corp over sole prop this year and saved $1,200

I spent most of November going back and forth on whether to switch my freelancing to an S-Corp. My accountant told me I'd save around $1,200 on self-employment taxes since I netted about $60k this year. I went for it and filed the paperwork with the IRS in early December. The extra quarterly payroll stuff is annoying but honestly not as bad as I thought it'd be. Has anyone else made the jump and found it worth the extra admin work?

2 comments

2 Comments

gray3145d ago

Wait you actually did it for $1,200 savings? I mean idk that seems like a lot of payroll hassle to save what feels like couch cushion money.

charlie1985d ago

Plus the time spent messing with payroll forms probably cost more than that.