--- title: Small Busines Owner's Guide to S Corp Tax Tips description: S Corps do not usually pay their own tax. It passes income/deductions to its shareholders. Those tips and more can be found on this S Corp tax tips post. image: https://media.insognacpa.com/hubfs/carried%20interest%20tax%20treatments.png --- [![Insogna logo small](https://media.insognacpa.com/hs-fs/hubfs/Insogna%20logo%20small.png?width=300&height=73&name=Insogna%20logo%20small.png "Insogna logo small")](https://insognacpa.com/) [![Insogna logo small](https://media.insognacpa.com/hs-fs/hubfs/Insogna%20logo%20small.png?width=300&height=73&name=Insogna%20logo%20small.png "Insogna logo small")](https://insognacpa.com/) [![Insogna logo small](https://media.insognacpa.com/hs-fs/hubfs/Insogna%20logo%20small.png?width=300&height=73&name=Insogna%20logo%20small.png "Insogna logo small")](https://insognacpa.com/) [![Insogna logo small](https://media.insognacpa.com/hs-fs/hubfs/Insogna%20logo%20small.png?width=300&height=73&name=Insogna%20logo%20small.png "Insogna logo small")](https://insognacpa.com/) Content Title Description < Previous page Next page > [Why Us](https://insognacpa.com/why-us) | [Business Accounting](https://insognacpa.com/business-accounting) | [Fractional CFO](https://insognacpa.com/fractional-cfo) | [Minimizing Taxes](https://insognacpa.com/tax-strategy/) [Building Wealth](https://insognacpa.com/building-wealth) | [Learning Center](https://insognacpa.com/learning-center)| [Contact Us](https://insognacpa-6129290.hs-sites.com/en-us/contact-us) [S Corp](https://media.insognacpa.com/blog/tag/s-corp) # Small Busines Owner's Guide to S Corp Tax Tips By [Chase Insogna, CPA](https://media.insognacpa.com/blog/author/chase-insogna-cpa) Oct 17, 2022 1:04:00 PM 2 Minutes Read ## ![Young businessman taking a decision with arrows and question mark above his head](https://media.insognacpa.com/hs-fs/hubfs/Young%20businessman%20taking%20a%20decision%20with%20arrows%20and%20question%20mark%20above%20his%20head.jpeg?width=464&height=300&name=Young%20businessman%20taking%20a%20decision%20with%20arrows%20and%20question%20mark%20above%20his%20head.jpeg)   ## Small Business Owner S Corp Tax Frequently Asked Questions While we see a number of questions related to S Corp tax saving strategies, the number one question that we see from small business owners regarding taxes is: ### *"Am I paying too much taxes?"* Are you a small business owner and feel like you’re paying too much in taxes? There's a very good chance that you probably are. We see it in small businesses like yours all the time. Come April, the CPA preparing your taxes says your bookkeeper missed several opportunities to save you money. But it’s too late. Your taxes are due, and the IRS is calling. Maybe next year. You can avoid scenarios like this by being proactive and planning ahead.    ### Other common questions that we see about S Corp Tax Saving Strategies: - *What can I write off on my S corp taxes?* - *How do you get the most out of an S Corp?* - *Is it better to be taxed as an S Corp?* - *How do I prepare my S Corporation Tax Return?* - *What are S Corporations?* - *What are the top tax saving strategies for S-Corporations?*   ![Businessman looking at road with maze and solution concept](https://media.insognacpa.com/hs-fs/hubfs/Businessman%20looking%20at%20road%20with%20maze%20and%20solution%20concept.jpeg?width=434&height=300&name=Businessman%20looking%20at%20road%20with%20maze%20and%20solution%20concept.jpeg) ## Small Business Owner's Guide to S Corporation Tax Tips Here are some small business tax tips to help you maximize your tax savings and to answer top S Corp tax questions.    ### The S Corporation Election What is an S Corporation and how do you make an S Corp election for your business? - [Operating and Filing as An S Corporation](https://media.insognacpa.com/blog/operating-and-filing-as-an-s-corporation) - [S Corp Election Tax Information](https://media.insognacpa.com/blog/s-corp-election-tax) - [Why Small Businesses May Want to Consider Electing S Corp Status](https://media.insognacpa.com/blog/electing-s-corp-status) ### Reducing Your Tax Bill There are a number of different tax reduction strategies for businesses and business owners.  - [5 Legal Ways to Reduce Your Tax Bill](https://media.insognacpa.com/blog/learning-center/5-legal-ways-to-reduce-your-tax-bill) - [How Does Combining a Vacation with a Foreign Business Trip Affect the Tax Deduction for Travel Expenses of a Self-Employed Individual?](https://media.insognacpa.com/blog/deducting-foreign-business-expenses) - [Why PEO is worth exploring.](https://media.insognacpa.com/blog/why-peo-is-worth-exploring) - [How Small Business Owners Can Avoid a Tax Audit](https://media.insognacpa.com/blog/small-business-tax-audit) - [Do You Need to Renew Your ITIN?](https://media.insognacpa.com/blog/renew-itin) ### Starting a New Business Are you starting a new business? If you are an entrepreneur and you are just launching your new business venture, here are some things to consider to make sure that you are set up for success. - [The Key Steps to Take BEFORE You Start a New Business](https://media.insognacpa.com/blog/starting-a-new-business) - [Top 10 Startup Business Questions Every Entrepreneur Should Answer](https://media.insognacpa.com/blog/startup-business-questions) ### Setting Up a LLC A Limited Liability Company (LLC) is one form of business legal structure. Find out if it's the right one for you. - [Why You Should Set Up an LLC or S Corp Before Year-End](https://media.insognacpa.com/blog/why-you-should-set-up-an-llc-or-s-corp-before-year-end) - [My LLC is set up. Now what?](https://media.insognacpa.com/blog/my-llc-/-inc-is-setup-now-what) ### Payroll and Compensation If you have employees, or are even considering paying yourself as a business owner, there are a number of tax implications to consider to minimize your overall taxes.  - [How much should I pay myself on a W2 before December 31?](https://media.insognacpa.com/blog/w2-payroll-for-business-owners) - [Reasonable Compensation and S Corporations](https://media.insognacpa.com/blog/s-corp-reasonable-compensation) - [What do I need to know about paying a bonus to myself or my employees?](https://media.insognacpa.com/blog/paying-a-bonus) - [Are You an S Corporation Stockholder?](https://media.insognacpa.com/blog/s-corporation-stockholder) ### Accounting for Small Businesses There are a number of accounting options for small businesses. Explore whether integrated accounting teams, and/or cloud accounting are a good fit for your business needs. - [How Integrated Accounting Teams Benefit Small Businesses](https://media.insognacpa.com/blog/integrated-accounting-teams-benefit-small-business) - [Why It Might be Time for Your Business to Migrate to Cloud Accounting](https://media.insognacpa.com/blog/migrate-to-cloud-accounting)   *Keep an eye on this page as we will continue to add valuable information to it. *   ## Recommended For You [![How much should I pay myself on a W2](https://media.insognacpa.com/hubfs/How%20much%20should%20I%20pay%20myself%20on%20a%20W2.png)](https://media.insognacpa.com/blog/w2-payroll-for-business-owners) [S Corp](https://media.insognacpa.com/blog/tag/s-corp) 2 Min Read ### [How much should I pay myself on a W2 before December 31?](https://media.insognacpa.com/blog/w2-payroll-for-business-owners) [![Picture of Chase Insogna, CPA](https://media.insognacpa.com/hubfs/Chase-Insogna-1024x1024.png) Chase Insogna, CPA Oct 11, 2022 3:15:41 PM](https://media.insognacpa.com/blog/author/chase-insogna-cpa) [![tax tips for iras](https://media.insognacpa.com/hubfs/tax%20tips%20for%20iras.png)](https://media.insognacpa.com/blog/tax-tips-for-ira-owners) [Individual Tax](https://media.insognacpa.com/blog/tag/individual-tax) [Retirement](https://media.insognacpa.com/blog/tag/retirement) 5 Min Read ### [Tax Tips for IRA Owners](https://media.insognacpa.com/blog/tax-tips-for-ira-owners) [![Picture of Chase Insogna, CPA](https://media.insognacpa.com/hubfs/Chase-Insogna-1024x1024.png) Chase Insogna, CPA Mar 6, 2023 1:57:55 PM](https://media.insognacpa.com/blog/author/chase-insogna-cpa) [![S Corp Tax Filing](https://media.insognacpa.com/hubfs/S%20Corp%20Tax%20Filing.png)](https://media.insognacpa.com/blog/operating-and-filing-as-an-s-corporation) [Tax](https://media.insognacpa.com/blog/tag/tax) [S Corp](https://media.insognacpa.com/blog/tag/s-corp) 2 Min Read ### [Operations and Filing Taxes as an S Corporation](https://media.insognacpa.com/blog/operating-and-filing-as-an-s-corporation) [![Picture of Chase Insogna, CPA](https://media.insognacpa.com/hubfs/Chase-Insogna-1024x1024.png) Chase Insogna, CPA Oct 11, 2022 3:35:43 PM](https://media.insognacpa.com/blog/author/chase-insogna-cpa) Insogna CPA 3355 Bee Cave Road, Suite 503 Austin TX 78746 (512) 891-8200 - [Contact Us](https://insognacpa.com/contact-us/) - [Customer Reviews](https://insognacpa.com/testimonials-and-reviews/) - [Careers at Insogna CPA](https://insognacpa.com/careers/) - [Privacy Policy](https://insognacpa.com/privacy-policy/) - [Texas Board of Accountancy License](https://www.tsbpa.texas.gov/php/fpl/frmlookup.php?x=T71ujVIEr%2Fg%3D) [Follow us on Facebook](https://www.facebook.com/InsognaCPAs) [Follow us on LinkedIn](https://www.linkedin.com/company/insognacpa-com/) [Follow us on Twitter](https://twitter.com/InsognaCPA) [Follow us on Instagram](https://www.instagram.com/insognacpa/) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Chase Insogna, CPA", "url" : "https://media.insognacpa.com/blog/author/chase-insogna-cpa" }, "dateModified" : "2022-11-12T00:48:38.426Z", "datePublished" : "2022-10-17T18:04:00.000Z", "headline" : "Small Busines Owner's Guide to S Corp Tax Tips", "image" : [ "https://media.insognacpa.com/hubfs/carried%20interest%20tax%20treatments.png" ], "mainEntityOfPage" : { "@id" : "https://media.insognacpa.com/blog/s-corp-tax-tips", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://media.insognacpa.com/hubfs/InsognaLogoSite2020.png" }, "name" : "Insogna CPA" } } ```