Lockhart & Powell:

Most businesses earning $60,000+ in net profit can save thousands annually. The 15.3% self-employment tax on distributions is eliminated with S-Corp status. For example, a business with $100,000 profit could save $7,650+ yearly. While S-Corps require payroll and additional filings, our clients typically save 5-10x our fees in the first year alone. We handle the complexity—you keep the savings.

Provide your QuickBooks year‑end file, profit‑and‑loss statement, balance sheet, bank statements, payroll reports, fixed‑asset purchases, 1099s, and prior‑year returns. Clean digital files help us deliver faster, error‑free corporate tax returns.

An S‑Corp lets net profit pass through to shareholders and avoids double taxation, while a "reasonable salary" is subject to payroll tax. Many Colorado LLCs convert to S‑Corp status and save thousands; our tax‑planning meeting shows if it's right for you.

The "sweet spot" typically starts around $60,000 in net business profit. However, timing depends on your salary needs, business stability, and growth trajectory. We provide a free S-Corp analysis showing your exact savings potential.

We see it all—from pristine books to "shoebox accounting." Our process includes QuickBooks review and cleanup recommendations. While organized books save time (and money), we won't turn you away for being disorganized. We partner with Colorado Bookkeeping & Accounting for clients needing ongoing support. Many successful businesses come to us specifically because they've outgrown DIY bookkeeping.

Yes, we help businesses from any state with their tax preparation and compliance needs. Whether you're based in Colorado with operations elsewhere, or located in another state entirely, our CPAs have the expertise to handle multi-state tax filings and ensure you're compliant across all jurisdictions where you do business.