{"id":13935,"date":"2021-06-18T21:41:35","date_gmt":"2013-07-15T03:41:35","guid":{"rendered":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/"},"modified":"2026-01-26T17:12:28","modified_gmt":"2026-01-26T17:12:28","slug":"recap-of-s-corps","status":"publish","type":"epkb_post_type_1","link":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/","title":{"rendered":"Recap of S-Corps"},"content":{"rendered":"<p>By <a href=\"mailto:support@watsoncpagroup.com\">Jason Watson<\/a> (<a href=\"https:\/\/plus.google.com\/118232983597433278581\" rel=\"author\">Google+<\/a>)<br \/>\nPosted December 23, 2017<\/p>\n<p><span style=\"color: #0000ff;\"><strong>This content is not currently being supported.<\/strong><\/span><\/p>\n<p>Here is a quick recap or summary of S Corps, and why you might consider making the election-<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Must have an LLC, partnership or C Corp in place<\/li>\n<\/ul>\n<ul>\n<li>Can save 8% &#8211; 10% of net income on taxes, possibly more<\/li>\n<\/ul>\n<ul>\n<li>Must run payroll and prepare a corporate tax return, no exceptions<\/li>\n<\/ul>\n<ul>\n<li>Payroll ran quarterly, previous distributions can be reclassified as wages (elegance!)<\/li>\n<\/ul>\n<ul>\n<li>Pull money out with reimbursements for business expenses (home office, mileage, etc.)<\/li>\n<\/ul>\n<ul>\n<li>Hefty retirement contributions allowed, reduces income<\/li>\n<\/ul>\n<ul>\n<li>Health insurance premiums and HSA contributions get dollar for dollar deduction<\/li>\n<\/ul>\n<ul>\n<li>Pay for your children\u2019s college expenses through the S Corp<\/li>\n<\/ul>\n<ul>\n<li>Can retroactively make the S-Corp election back to Jan 1 2017<\/li>\n<\/ul>\n<ul>\n<li>Low operational hassles<\/li>\n<\/ul>\n<ul>\n<li>Approximately <strong>$2,940 <\/strong> modeling and consultation.<\/li>\n<\/ul>\n<p>Attention! Sales pitch coming- S Corps are easy, they typically make sense if you are above $35,000 in net income after expenses, and they will improve your financial position in life. Contact us to get started. Did that sound too cheesy? Seriously the right questions must be asked and answered since not all S corporations make sense.<\/p>\n<p><strong><br \/>\nTaxpayer&#8217;s Comprehensive Guide to LLCs and S Corps : <span style=\"color: #0000ff;\">2019 Edition<\/span><\/strong><br \/>\nThis KB article is an excerpt from our book which is available in paperback from <a href=\"https:\/\/www.wcginc.com\/amazon\" target=\"_blank\" rel=\"noopener noreferrer\">Amazon<\/a>, as an eBook for <a href=\"https:\/\/www.wcginc.com\/kindle\" target=\"_blank\" rel=\"noopener noreferrer\">Kindle<\/a> and as a <a href=\"https:\/\/www.wcginc.com\/pdf\" target=\"_blank\" rel=\"noopener noreferrer\">PDF<\/a> from ClickBank. We used to publish with iTunes and Nook, but keeping up with two different formats was brutal. You can cruise through these KB articles, click on the fancy buttons below or visit our webpage which provides more information at-<\/p>\n<table style=\"width: 40%;\">\n<tbody>\n<tr>\n<td style=\"text-align: center; width: 33%;\"><a href=\"https:\/\/wcginc.com\/amazon\"><img decoding=\"async\" class=\"wp-image-15464 size-full alignnone\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/2019\/08\/amazon-imageresized.png\" alt=\"s corp book amazon\" width=\"50\" height=\"50\" \/><\/a><\/td>\n<td style=\"text-align: center; width: 33%;\"><a href=\"https:\/\/wcginc.com\/kindle\"><img decoding=\"async\" class=\"wp-image-15465 size-full alignnone\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/2015\/08\/kindle-imageresized.png\" alt=\"s corp book kindle\" width=\"50\" height=\"50\" \/><\/a><\/td>\n<td style=\"text-align: center; width: 33%;\"><a href=\"https:\/\/wcginc.com\/pdf\"><img decoding=\"async\" class=\"wp-image-15466 size-full alignnone\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/2019\/08\/PDFresized.png\" alt=\"s corp book pdf\" width=\"50\" height=\"50\" \/><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center; width: 33%;\"><strong>$24.95<\/strong><\/td>\n<td style=\"text-align: center; width: 33%;\"><strong>$17.95<\/strong><\/td>\n<td style=\"text-align: center; width: 33%;\"><strong>$12.95<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/wcginc.com\/business-services\/book\/\">Taxpayer&#8217;s Comprehensive Guide to LLCs and S Corps<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This content is not currently being supported[&#8230;]<\/p>\n","protected":false},"author":6,"featured_media":4238,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"epkb_post_type_1_category":[69],"epkb_post_type_1_tag":[],"class_list":["post-13935","epkb_post_type_1","type-epkb_post_type_1","status-publish","has-post-thumbnail","hentry","epkb_post_type_1_category-chap-zz-other-s-corp-thoughts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Recap of S-Corps - WCG CPAs &amp; Advisors<\/title>\n<meta name=\"description\" content=\"Here is a quick recap or summary of S Corps, and why you might consider making the election. Contact WCG for more information.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recap of S-Corps\" \/>\n<meta property=\"og:description\" content=\"Here is a quick recap or summary of S Corps, and why you might consider making the election. Contact WCG for more information.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/\" \/>\n<meta property=\"og:site_name\" content=\"WCG CPAs &amp; Advisors\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-26T17:12:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wcginc.com\/wp-content\/uploads\/2020\/06\/3000X3000_2-scaled-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"2048\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Recap of S-Corps - WCG CPAs &amp; Advisors","description":"Here is a quick recap or summary of S Corps, and why you might consider making the election. Contact WCG for more information.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/","og_locale":"en_US","og_type":"article","og_title":"Recap of S-Corps","og_description":"Here is a quick recap or summary of S Corps, and why you might consider making the election. Contact WCG for more information.","og_url":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/","og_site_name":"WCG CPAs &amp; Advisors","article_modified_time":"2026-01-26T17:12:28+00:00","og_image":[{"width":2048,"height":2048,"url":"https:\/\/wcginc.com\/wp-content\/uploads\/2020\/06\/3000X3000_2-scaled-1.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/","url":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/","name":"Recap of S-Corps - WCG CPAs &amp; Advisors","isPartOf":{"@id":"https:\/\/wcginc.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/#primaryimage"},"image":{"@id":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/#primaryimage"},"thumbnailUrl":"https:\/\/wcginc.com\/wp-content\/uploads\/2020\/06\/3000X3000_2-scaled-1.jpg","datePublished":"2013-07-15T03:41:35+00:00","dateModified":"2026-01-26T17:12:28+00:00","description":"Here is a quick recap or summary of S Corps, and why you might consider making the election. Contact WCG for more information.","breadcrumb":{"@id":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wcginc.com\/kb\/recap-of-s-corps\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/#primaryimage","url":"https:\/\/wcginc.com\/wp-content\/uploads\/2020\/06\/3000X3000_2-scaled-1.jpg","contentUrl":"https:\/\/wcginc.com\/wp-content\/uploads\/2020\/06\/3000X3000_2-scaled-1.jpg","width":2048,"height":2048,"caption":"WCG"},{"@type":"BreadcrumbList","@id":"https:\/\/wcginc.com\/kb\/recap-of-s-corps\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wcginc.com\/"},{"@type":"ListItem","position":2,"name":"Recap of S-Corps"}]},{"@type":"WebSite","@id":"https:\/\/wcginc.com\/#website","url":"https:\/\/wcginc.com\/","name":"wcginc.com","description":"","publisher":{"@id":"https:\/\/wcginc.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wcginc.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wcginc.com\/#organization","name":"wcginc.com","alternateName":"WCG CPAs & Advisors","url":"https:\/\/wcginc.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wcginc.com\/#\/schema\/logo\/image\/","url":"https:\/\/wcginc.com\/wp-content\/uploads\/wcg-logo.png","contentUrl":"https:\/\/wcginc.com\/wp-content\/uploads\/wcg-logo.png","width":521,"height":137,"caption":"wcginc.com"},"image":{"@id":"https:\/\/wcginc.com\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/epkb_post_type_1\/13935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/epkb_post_type_1"}],"about":[{"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/types\/epkb_post_type_1"}],"author":[{"embeddable":true,"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/comments?post=13935"}],"version-history":[{"count":1,"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/epkb_post_type_1\/13935\/revisions"}],"predecessor-version":[{"id":90661,"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/epkb_post_type_1\/13935\/revisions\/90661"}],"wp:attachment":[{"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/media?parent=13935"}],"wp:term":[{"taxonomy":"epkb_post_type_1_category","embeddable":true,"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/epkb_post_type_1_category?post=13935"},{"taxonomy":"epkb_post_type_1_tag","embeddable":true,"href":"https:\/\/wcginc.com\/wp-json\/wp\/v2\/epkb_post_type_1_tag?post=13935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}