S-Corp Transformation Service  - Erin Armstrong

S-Corp Transformation Service

Lower your tax bill & protect your assets

You’re probably here because you’re ready to transition your business to an S-Corp, and you want to make sure you do everything right.

Maybe you asked your accountant about the financial benefits and requirements of operating as an S-Corp, but you weren’t satisfied with the answers.

Or maybe you’ve already been to an attorney and filed your S-Corp paperwork, but now you’re wondering what to do next. (After all, operating as an S-Corp has specific payroll, reporting, and financial requirements—and you don’t want to mess those up.)

Cue the S-Corp Transformation Service!

Rather than just filing your initial S-Corp paperwork (and leaving you to figure out the rest), this comprehensive service has been designed to:

Take your specific needs into account
Handle all the legal & financial logistics
Empower you & your business for success!

“Erin has been incredibly valuable in our business and tax planning!“

Erin has been incredibly valuable in our business and tax planning… giving strategic advice on how to structure our business and minimize unnecessary taxes. I would highly recommend working with Erin! – Alex Birkett, Omniscient Digital
Erin Armstrong - Business Coach & Virtual CFO - Testimonials - Jan Marie - Therapist and Life Coach - Founder of Jan Marie Inc.

“Erin has saved me thousands of dollars & brought me peace.”

Erin’s made the process of managing the financial part of my business easy. She was supportive, and understood the needs I’d have as my business grew. Her resources were invaluable, and her knowledge and references to federal tax law made me feel confident in handling my business finances moving forward. She has helped me save thousands of dollars, and brought me peace. – Jan Marie, Jan Marie Inc.
Erin Armstrong - Business Coach & Virtual CFO - Testimonials - Lea Gervais - Entrepreneur and Founder of Urban 20 Something

“Erin was a critical part of the financial foundation of my business.”

Erin was a critical part of the financial foundation of my business. I worked with her right before my business was able to hit six figures in revenue and it’s no coincidence- her guidance is clear, she puts you in full control and power of your finances, and she is also the sweetest and most patient person to learn from. I recommend working with Erin to any entrepreneur wanting to elevate their own knowledge and their business future.

-Leah Gervais

In addition to filing the necessary legal paperwork, the S-Corp Transformation Service also addresses your tax strategy, sets up your payroll system, and optimizes your accounting procedures.

Plus, this service includes ongoing one-on-one financial education and support to make sure you fully understand the changes that are being made—as well as all of your ongoing S-Corp requirements.

Why is it important to have a comprehensive approach to S-Corp formation?

Because a comprehensive approach will help prevent you from making expensive mistakes like:

  • Paying yourself too little through payroll, which potentially sets your business up for an irrevocable loss of S-Corp status—as well as personally owing back taxes and penalties to the state and IRS.
  • Paying yourself too much through payroll in a misguided attempt to meet the legal requirements (which may negate your S-Corp tax benefits and land you with a higher tax bill than before you created an S-Corp).
  • Adding types of shareholders to your business that aren’t allowed, which immediately disqualifies your business from operating as an S-Corp and means your tax bill goes up.

The S-Corp Transformation Service steers you clear of any potential errors by focusing on how the different financial components of your business interact with each other. We will answer questions like:

Erin Armstrong - Business Coach - Virtual CFO - Bullet Point Checkmarks“How much should I pay myself this year?”

“How much would I pay myself if my business tripled its gross revenue next year?”

“How much would I pay myself if my business brings in significantly less?”

“Does it make sense to add this partner as a shareholder?”

“How much do I pay in estimated taxes now?”

“How should I plan to pay estimated taxes in future scenarios?”

Erin Armstrong - Business Coach & Virtual CFO - Testimonials - Krystal Faircloth

“Erin has changed the course of my business.”

Erin has changed the course of my business by giving it a financial structure better suited for success. She helped move my business from an LLC to an S-Corp while also setting me up on a payroll system and schedule. I can’t recommend Erin enough for her ability to make intimidating terminology and systems both easy and understandable.

– Krystal Faircloth

“I feel more empowered than ever before around my finances and owe it to Erin.”

My goal was to organize my finances and truly understand the ins and outs of taxes, my S-Corp, payroll, cash flow, etc. and I got so much more from working with Erin! I feel more empowered than ever before around my finances and owe it to Erin for being patient with me, answering all of my questions, and her guidance in setting up all my new systems.

– Dr. Elana Roumell, Med School for Moms
Erin Armstrong - Business Coach & Virtual CFO - Testimonials - Jennifer Albert

“Erin’s expertise has saved me time, money and given me peace about sometimes intimidating concepts.”

By following Erin’s advice and incorporating her suggested principles and practices, I was able to set up structures that have made the money-side things much more straightforward and approachable. (Even my beau, a financial advisor, is impressed!) I am so grateful because Erin’s expertise has saved me time, money and given me peace about sometimes intimidating concepts.

– Jennifer Albert

“Erin has been a joy to work with.“

Erin has been a joy to work with and have as a partner. She is charismatic, caring, and genuinely wants to help. Erin goes above and beyond to partner with me and I so appreciate her. She also explains things in a way that makes sense, plus she’s incredibly patient. I highly recommend Erin – she’s saving me money and sanity!

– Grace Gittinger, GG & Co

Ready to get Started?

The S-Corp Transformation Service focuses on 6 general areas.

Of course, every business is different, and in some cases businesses won’t need all 6 (if, for example, your business already has S-Corp status). But if you have not already started the process, our work together would focus on these 6 areas:

1.

Filing all the S-Corp paperwork for your business. This also includes filing for your Federal Tax ID Number (EIN). And, depending on the specifics of your situation, this may also include filing for and/or dissolving other legal entities so that you and your business are operating with the correct legal structure.

2.

Addressing and developing a tax strategy for you and your business. Obtaining S-Corp status will typically lower your tax bill by itself, but we will also focus on maximizing your tax deductions in order to reduce your tax bill even further. In addition, the tax strategy will cover things like planning for (and paying) estimated taxes, taking distributions/profits from your business, and what you’ll need to do differently if your overall household income changes.

3.

Setting up and optimizing your accounting system. You might already be doing your accounting on QuickBooks Online or another accounting system. If so, that’s great! We will work on customizing your file to match your exact needs (this might include customizing your Chart of Accounts, creating Custom Saved Reports, re-classifying and reconciling data, etc.). If you’re not already using accounting software, then I’ll take care of the initial setup with QuickBooks Online and work on customizing your file.

4.

Setting up payroll and integrating it with your accounting software. As you probably know, running payroll for the owners is a requirement of an S-Corp. I will make sure that your payroll system is customized to meet the necessary reporting requirements, including automated payroll journal entries into your accounting software. I will also file for your business’ employer number with your state (as well as with any cities or counties that tax payroll at the local level). In addition, I will create a customized payroll strategy that takes into account your business revenue, revenue from other sources, and IRS requirements – in other words, you’ll know exactly how much to pay yourself (how much to run through payroll).

5.

Filing your business tax return. Included as part of the S-Corp Transformation Service, I will file all your business and personal tax forms (federal and state) for the year that you start operating with S-Corp status.

6.

Ongoing Financial Support through the entire process. This will include several scheduled calls to address the different financial components of your business. In addition, you’ll receive helpful informational handouts, as well as personalized instructional videos, which you can use as a quick reference when needed. I will also be available to address any unanticipated questions or scenarios that arise during the process.

Sound good? Great!

(What are you waiting for?)

S-Corp Transformation Service Logistics:

The S-Corp Transformation Service is customized to you and your business.

If you’d like to move forward, please click the “GET STARTED” button. This will allow you to schedule an initial free call where we’ll talk about your business, its needs, and how S-Corp status could help you. After that conversation, I’ll send over a detailed proposal with specifics of what this service would cover for you and your business, as well as the price.

Business owners who come to me for this service are in a wide range of situations: some of them have already created the S-Corp structure with a lawyer and need help with the payroll and tax strategy side; some come with an LLC entity that needs to be dissolved because they are no longer based in the same state, as well as needing their first S-Corp created for their new state; some come with no accounting records; and some come with a pristine QuickBooks Online account. In addition, some situations will require substantial state and federal filing fees, while for others the fees will be much less.

Given the wide range of situations, the price range for the S-Corp Transformation Service varies greatly. To give you general sense of the price, however, you should know that most businesses end up paying at least several thousand dollars for this service. For businesses where cash flow is a concern, I have partnered with a financing company that works with my clients. Most of my clients who use this financing option pay less than $250/month until their balance is paid off.

The S-Corp Transformation Service is a legitimate tax-deductible expense for your business.

MEET YOUR S-CORP GUIDE, ERIN

Erin Armstrong is a Chief Financial Officer, Business Coach and Tax Strategist who’s on a mission to financially empower business owners. Her unique, comprehensive approach integrates all the financial aspects of your business (such as accounting practices, tax strategy, profitability, budgeting, & cash flow) with an emphasis on developing a positive money mindset so you can move forward in a confident, proactive and empowered way.

Over the past 11 years, Erin has worked with hundreds of businesses across the country as a Virtual CFO, Accountant, Tax & Financial Consultant, Business Coach, and Speaker. She’s also led business financial workshops in many major cities throughout the US. Erin is an Enrolled Agent licensed by the IRS. She lives with her husband and daughter (and their two dogs) in the Dallas area.

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