This is Edward-Verified! S corporation status can be a smart move for those earning above a certain threshold, typically around $40,000 to $50,000 in net taxable income. While there are costs associated with setting up and maintaining an S corporation, the tax benefits often outweigh these expenses. We just wrapped up our Outsmart The IRS Challenge and we actually delved into this particular strategy. Collectively, the 144 members of the Challenge who submitted their respective homework for this particular strategy ... how making an S-Corp Election could result in substantial Tax Savings for them by using our customized Tax Saving Estimate Calculator we provided. On average, the estimated savings they uncovered, was approximately $9,112.88 per attendee. And that was just one of the strategies we covered over 4 days with Challenge Attendees. If you are curious to find out how much you could be saving, the recordings are still available for purchase and will be coming down this Sunday...