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Updated over 1 year ago on . Most recent reply

User Stats

18
Posts
16
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Christian Perez
  • New to Real Estate
  • Las Vegas
16
Votes |
18
Posts

Need help/guidance creating a s-corp for taxes

Christian Perez
  • New to Real Estate
  • Las Vegas
Posted

My girlfriend is a cosmetologist who has been filing under 1099, but wants to change that with the S Corp. I’m looking for someone that can help recommend me or guide me to the right person to create that. She makes about $10,000 - $14,000 a month. Please feel free to input big questions that I’m sure I should be asking 

Thank you in advance 

Most Popular Reply

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8,153
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3,695
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Basit Siddiqi
  • Accountant
  • New York, NY
3,695
Votes |
8,153
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Basit Siddiqi
  • Accountant
  • New York, NY
Replied

If she is making $10,000 - $14,000 a month and that is net income and not gross, you are looking at about $120,000 - $168,000 of income annually.

S-corp will not save on income taxes but it will provide an opportunity to potentially save on self employment taxes.

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Basit Siddiqi CPA
4.9 stars
80 Reviews

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