Do-it-yourself Georgia S Corporation Kit
Want to know how to save thousands of dollars a year in payroll and income taxes for your Georgia business? Simple: turn your business into an S corporation.
What's even better? You actually don't need to pay an accountant or attorney $300 or $500 dollars to set it up for you. You can do the work yourself using one of my affordable, instantly downloadable Georgia S corporation kits.
You can scroll down the page to get to the buttons you click to download the free kits... but in case you're interested (and maybe to prove to you how easy this process is), let me briefly describe the three steps you take to form an S corporation in Georgia. (This information should convince you the work is definitely a possible do-it-yourself business project.)
First Step for a Georgia S Corp: Form an Eligible Entity
The eligible entity is the platform for your S corporation. Both traditional corporations and limited liability companies are great options for this, although there are others. Fill out either an Articles of Incorporation form (if you want to form a corporation) or an Articles of Organization form (if you want to form an LLC), and submit it to the Secretary of State in Atlanta.
The Corporations Division of the Georgia Secretary of State created an online filing system. You can form either a corporation or an LLC online at: http://www.sos.ga.gov/Corporations/new_entity_notice.htm.
Second Step for Georgia S Corp: Get Your Federal Employer Identification Number
After you form your eligible entity you will apply for an Employer Identification Number, or EIN, with the federal government. An EIN is like a business's Social Security Number. To apply for yours, fill out an SS-4 form and submit it to the Internal Revenue Service. After processing your application, the IRS should send you your EIN in a few weeks.
Third Step for Georgia S Corp: Make the Subchapter S Election
Once you receive your EIN, you can make the election to be treated as an S corporation. Fill out a 2553 form, and send it to the Internal Revenue Service Center in Ogden, Utah. The IRS will check to see that you followed correct procedure in making the election, and whether or not you are eligible to make the S corporation election.
If you would like a more detailed set of instructions for setting up your own S corporation, just download one of my free do-it-yourself kits using the buttons that show below. I created two versions of this kit, one for business owners who choose an LLC as the base for their s corporation, and another kit for businesses using traditional corporations.
Georgia S Corporation Kit Version 1: LLC Platform
In the LLC version of my S corporation kit, I discuss the pros and cons of forming an LLC in Georgia, and I give easy-to-follow steps for setting up the S corporation on your own. I also provide completed examples of every form you will fill out for reference. Additionally, I Include two sets of sample LLC operating agreements, one for single member (single-owner) LLCs and one for multiple member (multiple owner) LLCs.Purchase and Download
Georgia S Corporation Kit Version 2: Corporation Platform
I also provide a corporation version of my do-it-yourself kit, for businesses using a corporation instead of an LLC. This kit analyzes the positives and negatives of incorporating in Georgia and how to balance them, as well as detailed instructions to guide you through the entire process. Like the LLC kit, I include completed examples of every form for reference. As a bonus this kit includes a set of sample corporate bylaws, which can be used by you or your lawyer as a starting point when crafting your own corporate bylaws.Purchase and Download
Additional Information You May Find Useful
If you want additional information about how to maximize the tax savings related to running a business or investment venture, you may also be interested in one of our downloadable e-books (see descriptions below). Each book covers a category of tax planning topics that easily save a business owner significant amounts of income or self-employment taxes (potentially thousands of dollars a year) and is instantly downloadable.
Often the best tax saving tool private companies have? The Section 199A deduction which allows them to avoid taxes on the last 20 percent of their income.Read More
Using an S corporation for your business? To maximize savings, you need to minimize the salary paid to shareholders. But this decision is tricky.Read More
Nearly secret, the federal government's employee retention credits provide tremendous payroll tax savings for most small businesses... A new book from our firm explains.Info here