S corp savings calculator
See whether an S corp election might lower Social Security and Medicare taxes for your business, after the extra cost of running an S corp.
Compares the self-employment tax you'd pay as a sole proprietor or single-member LLC with the Social Security and Medicare taxes on an S corp salary, then subtracts the extra cost of running an S corp.
Estimate only, not tax advice. This looks only at Social Security and Medicare taxes, using the 2026 wage base of $184,500. It ignores income tax effects, the additional 0.9% Medicare tax, retirement plans, health insurance, and state payroll taxes and insurance. The IRS expects S corp owners who work in the business to pay themselves reasonable compensation. Talk with Craig before you change your business structure.
Sources: SSA 2026 wage base and tax rates, IRS Publication 15 (2026).
Want a real number, not an estimate? Craig can prepare your return or review your situation.
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