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S-Corp Tax Services

If you’re a small business owner, March 15th may feel like it’s approaching too quickly. Maybe you already have your financials ready, or need Insogna CPA to help with bookkeeping, but is either enough to ensure that your maximizing your 1120S taxes?

An S-Corporation (S-Corp) is a tax election made with the IRS that allows a sole proprietor or partnership to be taxed as an S-Corp. S-Corps elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. Because of this, many often refer to them as a ‘pass-through' entity.

There are a few other requirements:

What is an S Corp image requirement
Should I be an S Corp

If you are making a net profit (after expenses) of more than $30,000 per year, you should consider electing to be taxed as an S-Corp. Why? You’ll pay less taxes overall versus filing as a SchC and paying self-employment taxes on all of your net profits.

Now, obviously an S-Corp doesn’t make sense in every business situation, so Contact Us if you’re not sure and need a professional look at your potential tax savings strategy

How Does an S-Corp Get Taxed?

One of the largest benefits to filing as an S-Corp is that you escape the “double tax” bind that many C-Corps face. If an S-Corp loses money, that loss typically offsets the shareholder’s individual taxable income on their IRS1040. This can be a significant tax savings. And what about an S-Corp owners “reasonable” salary? Want to know what “reasonable” is…? Contact Us to engage our specialized software to find out exactly what you should pay yourself.

How Do I Get Started?

Insogna CPA’s tax experts can help you determine whether making the S-Corp election makes sense or not, as well as ensure and identify exactly what you should be paying yourself to avoid over-paying payroll taxes.

Don't pay more tax than you need too—our goal is to make sure you keep as much as you deserve and maximize your tax savings.

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I am an equity partner (through a professional corporation) in a major international law firm, with offices in Austin (where I am ) and in 27 other…
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This team of CPA’s made my business and personal tax process easier than ever. They are professional, patient and go the extra mile. Even with new the…
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These guys have taken being a CPA to a new level – they are streamlined, efficient, responsive and fast. I will be a client for a long time!!
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I first started working with the team for my small business–they were the only accounting firm who explained things to me in a straightforward way. We had…
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Maggie J.
The team at Insogna did a great job with our business and personal tax returns. They identified ways to reduce our taxes by thousands of dollars below what…
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Ami helped me prepare my taxes for the past few years (including a real estate investment property and capital gains) and I’ve appreciated her patience…
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I had the pleasure of working with Chase/Adam/Abby after being referred to them by another CPA who didn’t quite specialize in what I need (already a good…
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Bill P.
Chase Insogna and his team of accountants and bookkeepers are on top of it. I have a software technology services as well as a product company and…
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Outstanding service, knowledge and support. I would highly recommend this firm to anyone for personal or business tax or financial assistance. A big…
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Jerome H.
Insogna CPA made my experience of creating an LLC fast and easy. I was feeling very intimidated and unsure about the process but was pleasantly surprised at the straightforward process and reasonable price. This will be my first stop for any accounting needs!
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We’ve used Insogna CPA for over 7 years and wouldn’t go anywhere else. They are unfailingly professional, thorough and patient. No matter how many questions…
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Jodi C.
I like to do as little as possible when it comes to taxes. Insogna does everything and on time. All we had to do was scan a few documents and answer a reasonable and brief questionnaire. SATISFIED.
Doug Windland
Doug Windland
I’ve been through MANY cpa’s and finally landed on Insogna. There’s never any surprise bills, all expectations and prices are clear and reasonable up…
Dustin B.
Dustin B.
As of 2019, I have used Ingsogna to file my taxes for three years. I keep coming back because it’s easy, affordable and accurate. The electronic document room is a great place to store everything. I have always worked with Ami and she’s always professional and courteous. I used TurboTax for years and that was fine, but as life changed, compensation increased and the tax laws continued to evolve, I found that Ami has saved my family money each year.
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Christia Churchill
I have worked with the folks at Insogna for almost 4 years and I could not be happier with their services. Very responsive if we have a question and exceptionally friendly. They give me the flexibility to stay focused on my business knowing that are keeping our books in-line.
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Kris Byrd
I’ve used Insogna CPA’s bookkeeping, tax preparation, and professional services for my business (Bravery Media) and personal finances since 2012. They have always been helpful, quick to respond, and impeccable in their work. As a small business owner, it’s nice to not have to worry about accounting while I’m trying to generate more business. I’ve recommended Chase and his staff to dozens of people since I started working with them.
Joel Goodman
Joel Goodman
I’ve used Insogna CPA’s bookkeeping, tax preparation, and professional services for my business (Bravery Media) and personal finances since 2012. They have…
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