Have You Outgrown Your S Corporation?
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Hello Wealth Builders! Most business owners have been told the same thing: "Elect S Corporation status and you'll save on taxes." While that can be true, it's only part of the story. In fact, I see many business owners treat their S Corporation election as a "set it and forget it" strategy. They make the election, continue growing their business, and never revisit whether their entity structure is still the best fit. The problem? An S Corporation isn't a tax strategy. It's simply one tool available to implement a strategy. As your business grows, your needs change. What made sense at $150,000 in profit may not be the most tax-efficient structure at $500,000, $1 million, or beyond. Yet many business owners never ask: • Is my current entity still serving me well? That's why when someone asks me, "Should I elect S Corporation status?" my answer is always the same: It depends. It depends on your revenue, profitability, growth plans, compensation structure, and long-term objectives. At KNK Tax & Accounting, we don't make recommendations based on generic advice from social media or what worked for someone else. We analyze the numbers, compare the available options, and recommend the approach that creates the greatest benefit for your specific situation. If your business is generating $500,000 or more in annual revenue, the cost of relying on outdated tax strategies can be significant. The businesses that keep more of what they earn aren't necessarily making more money. They're making better decisions. If you're wondering whether your current tax strategy is still the right one, let's have a conversation. Schedule a consultation and let's determine whether your entity structure is helping you maximize tax savings—or holding you back. Karitsa Kerns, CPA, EA
I help women business owners keep more of what they earn because too many brilliant women are losing wealth to taxes they don't have to pay. DEADLINES June 15th -
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Welcome to the KNK Tax & Accounting Blog
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Have you ever been shopping during a sale, gotten to the register, and the cashier says: “Actually, I can give you another 25% off.” It wasn’t advertised. You didn’t know about it. But the cashier did. Would you say, “No thanks. I’d rather pay full price”? Of course not. Yet private practice owners do something similar with taxes all the time. They wait until tax season to talk to a tax professional. They get hit with a large tax bill and immediately start figuring out how to pay it. Or they...