1099 Income ≠ Higher Taxes (If You Do It Right)
Freelancers, solopreneurs, and small business owners often save $5k–$30k+. Answer 3 quick questions to see your number.
1. What is your annual net business profit, before owner draws?
$
2. If you had to hire someone to do your job, what would be a realistic salary? If you're not sure, we'll assume 40% of your Q#1 response.
$
3. What state do you primarily earn your income in?
Disclaimer
This calculator provides estimates only for comparing Schedule C and S-corporation tax scenarios. Results are based on simplified assumptions (single filer, specified income, simplified QBI and SSTB rules, and user-entered salary) and may not reflect your actual tax situation. True savings depend on full federal, state, and local tax rules, deductions, credits, and IRS determinations. By using this tool, you acknowledge that results are estimates only and should not be relied upon for filing or planning without professional guidance.
S-Corp Savings
$0.00
Based on your entries, an S corp could offer meaningful tax savings and may be worth the switch
Based on your entries, an S corp could offer meaningful tax savings and may be worth the switch
View Detailed Breakdown
Sole Prop / LLC
Total SE Tax
$0.00
Less: SE Deduction
($0.00)
Less: QBI Deduction
($0.00)
Preliminary Result
$0.00
S-Corp
Total SE Tax
$0.00
Less: SE Deduction
($0.00)
Less: QBI Deduction
($0.00)
Less: State PTE Deduction
($0.00)
Less: Interest Earned
$0.00
Preliminary Result
$0.00
Disclaimer
This calculator provides estimates only for comparing Schedule C and S-corporation tax scenarios. Results are based on simplified assumptions (single filer, specified income, simplified QBI and SSTB rules, and user-entered salary) and may not reflect your actual tax situation. True savings depend on full federal, state, and local tax rules, deductions, credits, and IRS determinations. By using this tool, you acknowledge that results are estimates only and should not be relied upon for filing or planning without professional guidance.
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