I am transitioning my W-2 income into a consulting business, does electing S-Corp status actually lower my self-employment tax?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

For someone shifting W-2 income into a consulting business, the S-Corp question often turns on how the work will be paid, how much profit is expected to remain after reasonable compensation, and how much administrative complexity the owner is willing to carry. In many cases, S-Corp treatment can cha For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.