There's nothing like navigating the transition from LLC to S-Corp to show you how ludicrously over-complex the US tax code is.
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Why on earth would you do that? I just went from S-corp to LLC.
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It saved me about $11,000 in self employment tax for last year. Otherwise, I was quite content with LLC arrangement.
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I'm paying roughly the same. S-corps require you to pay yourself a salary and payroll taxes on that salary, and more paperwork (940/941)
Some accountants might tell you you can pass it all through and skip social security/Medicare and pay only income tax, but that's shady af
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My accountant gave me guidance on "reasonable salary." Definitely not looking forward to the additional forms.
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