Would an S corporation save you tax? Now a button on the bookkeeper page

The free AI bookkeeper now compares a sole proprietorship with an S corporation in your browser: tax, payroll tax, a salary sweep and the break-even profit.

Tools and projects · 1 min read · Source
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The free AI bookkeeper could already compare a sole proprietorship with an S corporation from the command line. It is now a button under the tax estimate card: it takes your books' annualised Schedule C profit, an owner salary (half the profit if you leave it blank) and a yearly running cost (the default is $1,500, an assumption you can change), and shows income tax, payroll or self-employment tax and the all-in difference. It also shows a salary sweep from 30% to 100% of profit and the break-even profit.

It is federal only, one owner, and a worksheet rather than tax advice. The salary has to be reasonable for the work, and states differ. Everything runs in your browser; your books never leave your machine.

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