Business setup
Set up your business the way it should be taxed.
Form your LLC in a single afternoon, and get a tax pro's answer on whether an S-corp election saves you money.
Sherita Kittrell
CPA · Your tax pro
Your setup
Structure reviewed
LLC formed
S-corp election
Payroll running
The structure question stays open for years.
"I keep meaning to look at an S-corp."
Payroll and a reasonable salary feel like one more project.
"I don't know if I need an LLC."
The legal side and the tax side are different questions, and most advice blurs them.
"Payroll for one person sounds like overkill."
An S-corp means paying yourself a salary through payroll, and that part puts people off.
How it works
Talk it through with a tax pro.
They look at your income and tell you which structure fits now.
Form your LLC.
Get set up in a single afternoon.
Elect S-corp status, if it makes sense.
Your tax pro guides the election, and payroll is included on Thrive.
Advice first, paperwork second.
Formation services file forms. Sumly starts with whether the change will save you money, then helps you make it.
Sole proprietor, LLC or S-corp?
| Structure | How profit is taxed | What it adds |
|---|---|---|
| Sole proprietor | On your personal return, with self-employment tax on all profit | Nothing. It is the default. |
| LLC | The same as a sole proprietor unless you elect otherwise | A legal line between you and your business |
| LLC with S-corp election | You pay yourself a reasonable salary through payroll. Profit above that salary is not subject to self-employment tax. | Payroll, plus a separate business return on Form 1120-S |
An S-corp usually pays off once profit is high enough that the tax saved outweighs the cost of payroll and the extra return. In one illustrative example, a fractional CMO earning $150K saved an estimated $3,600 in self-employment tax. Your tax pro runs the math on your numbers.
$2,350+
average annual tax savings for Sumly users
LLC setup support, S-corp election support and payroll are included in Thrive, which starts with a 14-day free trial. S-corp tax returns can be filed for $699, state included.
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Get a straight answer on your structure.
Talk to a real person about your situation, with no commitment.
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A short email when something is worth knowing. Deadlines, deductions, and the occasional pep talk for your business.
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