S-Corp

The S-corp election explained: Form 2553 deadlines, reasonable salary rules, payroll duties, and the math that decides whether electing saves money.

Filing Guides

How to File an S-Corp Election – IRS Form 2553
ByClearLegalTips June 1, 2026August 1, 2026

The S-corp election allows corporations and LLCs to be taxed under Subchapter S by filing IRS Form 2553. This election can lead to significant tax savings, particularly by avoiding self-employment tax on profits exceeding a reasonable salary. Timely filing is crucial, with specific deadlines and requirements outlined.

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Business Calculators

S-Corp vs LLC Tax Calculator: Which Saves You More? (2026)
ByClearLegalTips May 12, 2026August 2, 2026

The bottom line: electing S-corp status can lower your self-employment tax, but it only pays off once your profit clears the cost of running payroll and filing a separate business return. For most one-owner businesses, that tipping point lands around…

Read More S-Corp vs LLC Tax Calculator: Which Saves You More? (2026)