S-Corp CPA in Celina, TX: Election, Salary Strategy, and 1120-S Filing
Celina is the second fastest-growing wealthy suburb in America, with a median household income of $155,875 and population growth exceeding 314% in recent years. That explosion has brought thousands of high-income business owners, many relocating from California and the Northeast, who are launching LLCs and sole proprietorships in custom home building, real estate, consulting, and professional services. If your Celina business is generating strong net income, an S-Corp election could cut your self-employment tax bill by thousands of dollars every year.
Our Services
Our S-Corp Election and Tax Services for Celina Clients
- S-Corp election analysis: We review your Celina business’s net income, entity structure, and growth trajectory to determine whether electing S-Corp status will produce real tax savings after accounting for payroll costs and additional compliance.
- IRS Form 2553 preparation and filing: We prepare and submit your S-Corp election to the IRS, including late election relief requests under Revenue Procedure 2013-30 if you missed the standard deadline.
- Reasonable salary determination: We research comparable compensation data for your industry and role in the Dallas-Fort Worth market to set a salary the IRS will accept, maximizing your distribution while staying defensible.
- Annual 1120-S return preparation: We prepare your S-Corp federal return, Schedule K-1 distributions for each shareholder, and all required supporting schedules. S-Corp and partnership returns are $1,000 to $2,000 depending on complexity.
- Texas Franchise Tax filing: Every Texas entity, including S-Corps, owes an annual Franchise Tax report due May 15. We handle the Franchise Tax return and Public Information Report for $250 to $500.
- Payroll setup and processing: An S-Corp requires you to run payroll for your salary. We set up and process monthly payroll with bank reconciliation starting at $300 to $600 per month.
Why Celina Businesses and Residents Choose AG Freideman
30+ years of hands-on experience: Al Freideman is a licensed CPA and MBA who has handled S-Corp elections and tax strategy across dozens of industries over three decades. Many Celina business owners are making this election for the first time after relocating to Texas. Al has guided hundreds of business owners through the same decision.
Virtual appointments built for Celina’s growth: Our office is on Preston Road in North Dallas, roughly 40 minutes south of Celina. But most of our Celina clients never need to make that drive. We handle everything through virtual meetings, secure document upload, and phone consultations. Whether you are in downtown Celina or one of the new master-planned communities along the 289 corridor, you get the same dedicated service.
Transparent pricing with no surprises: We publish our rates because Celina business owners, many of whom came from states where CPA pricing felt opaque, deserve to know what they are paying before they commit. S-Corp returns run $1,000 to $2,000. No hidden fees, no bait-and-switch.
52 five-star Google reviews: Every single one of our Google reviews is five stars. Celina clients who have worked with large corporate accounting operations or chain tax shops notice the difference immediately: Al handles your account personally, year after year.
S-Corp Election and Tax Questions from Celina Clients
When does an S-Corp election make sense for a Celina business?
Generally, an S-Corp election starts saving money when your business’s net profit consistently exceeds $50,000 to $60,000 per year after expenses. Below that threshold, the added cost of running payroll, preparing a separate 1120-S return, and filing additional Texas Franchise Tax reports can eat into the self-employment tax savings. Given Celina’s median household income of $155,875 and the prevalence of high-earning consultants, custom builders, and professional service providers in the area, many Celina business owners clear that threshold comfortably.
How much can an S-Corp save me in self-employment tax?
The savings depend on your net income and reasonable salary. A Celina business owner with $180,000 in net profit who pays themselves a $90,000 salary would save roughly $13,770 in self-employment tax on the $90,000 distributed as profit (15.3% of $90,000). The actual number varies because the Social Security tax component caps at $168,600 in 2026 wages, and the 0.9% Additional Medicare Tax applies above $200,000. We run the specific calculation for your situation during a free consultation.
What is a reasonable salary for an S-Corp owner?
The IRS requires S-Corp owners who perform services for the business to pay themselves “reasonable compensation” before taking distributions. Reasonable means comparable to what you would pay someone else to do the same work in your market. For a Celina-based general contractor managing custom home builds, that might be $85,000 to $120,000. For a solo marketing consultant, it might be $65,000 to $90,000. We research compensation benchmarks specific to your industry and the DFW market so your salary is defensible if the IRS ever questions it.
Can you file a late S-Corp election for my Celina business?
Yes. The standard deadline for electing S-Corp status is March 15 of the tax year (or within 75 days of forming your entity). If you missed that window, the IRS allows late election relief under Revenue Procedure 2013-30, provided you meet certain conditions: the entity is otherwise eligible, you intended to elect S-Corp status, and you have reasonable cause for the delay. Many Celina business owners who relocated to Texas and formed an LLC mid-year qualify for this relief. We prepare the late election paperwork and submit it with your return.
Does Texas charge a state tax on S-Corp income?
Texas has no state income tax, which is one reason so many high-income earners are moving to Celina from states like California and New York. However, Texas does impose a Franchise Tax (sometimes called the margin tax) on businesses with total revenue above $2.47 million. S-Corps below that threshold still must file a no-tax-due report and the Public Information Report with the Texas Comptroller by May 15 each year. We handle both filings as part of our Celina S-Corp service.
Do I need to change my LLC to become an S-Corp?
No. You keep your Texas LLC intact and simply file IRS Form 2553 to elect S-Corp tax treatment. Your LLC remains your legal entity with the Texas Secretary of State. The S-Corp election only changes how the IRS taxes your business. This is the most common structure we set up for Celina business owners: a Texas LLC taxed as an S-Corp, combining liability protection with self-employment tax savings.
Get Started from Anywhere in Celina
Whether you are running a business from Light Farms, Mustang Lakes, or a commercial space along Preston Road in Celina, the process starts with a free consultation. We review your business income, current entity structure, and goals to determine if an S-Corp election will save you money. Everything is handled virtually: document upload, strategy discussion, election filing, payroll setup, and annual return preparation. Call Al Freideman directly at (972) 893-3481 or book your free consultation at agfreideman.com/meeting/ to find out how much a Celina S-Corp election could save you in 2026.
Visit Our Office
Address: 17304 Preston Rd Ste 861, Dallas, TX 75252
Phone: (972) 893-3481
We also offer virtual appointments for clients throughout the DFW metroplex who prefer to meet remotely.
Book a Meeting"I was looking for a CPA who could also help with creating my LLC, and have not been disappointed. Not only did they facilitate the process, but also went above and beyond answering my questions, often in real time. They…"
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