S-Corp CPA in Irving, TX: Election, Salary Analysis, and 1120-S Tax Returns
Irving business owners earning well above the city’s $95,000 median household income face a costly reality: every dollar of net self-employment income gets hit with a 15.3% self-employment tax (Social Security at 12.4% plus Medicare at 2.9%) on top of federal income tax. For an Irving LLC owner clearing $150,000 or more in profit, that means roughly $21,000 a year in self-employment tax alone. An S-Corp election can cut that bill dramatically by splitting your income between a reasonable W-2 salary and tax-favored distributions.
Our Services
Our S-Corp Election and Tax Services for Irving Clients
When you work with us on your S-Corp election and ongoing tax compliance, here is exactly what you receive:
- S-Corp election analysis: We compare your current tax burden as a sole proprietor or single-member LLC against projected S-Corp savings, using your actual Irving business income, not hypothetical numbers.
- 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 W-2 salary the IRS will accept on audit.
- Annual 1120-S return preparation: We file your S-Corp return, prepare K-1 schedules for all shareholders, and reconcile distributions against basis to avoid surprises.
- Payroll setup and processing: We handle your officer payroll, quarterly 941 filings, and year-end W-2s so your salary payments stay compliant from day one.
- Texas Franchise Tax compliance: We file your annual Texas Franchise Tax Report and Public Information Report with the Texas Comptroller, a requirement for every Texas S-Corp.
Why Irving Businesses and Residents Choose AG Freideman, CPA
30+ years of hands-on experience: Al Freideman is a licensed CPA who has prepared S-Corp returns and guided entity elections for over three decades. Irving clients get direct access to that expertise on every call and every return.
Virtual appointments that reach all of Irving: Our office is on Preston Road in North Dallas, but we serve Irving clients entirely through virtual meetings. Whether you’re near Las Colinas, in the Entertainment District, or working from home in Valley Ranch, you get the same one-on-one service without the drive.
Transparent, published pricing: S-Corp and partnership returns (Form 1120-S, K-1 prep, multi-member returns) run $1,000 to $2,000. Monthly bookkeeping with payroll processing is $300 to $600 per month. We quote your price up front with no hidden fees, so Irving business owners know exactly what to expect.
52 five-star Google reviews: Every single one of our Google reviews is five stars. Irving clients trust us because we deliver personal attention, not a revolving door of junior staff. Al handles your account himself, year after year.
S-Corp Election and Tax Questions from Irving Clients
When does an S-Corp election make sense for my Irving business?
An S-Corp election typically starts saving money when your business net income consistently exceeds $50,000 to $60,000 per year. At that level, the self-employment tax savings on distributions begin to outweigh the added costs of payroll processing and a separate S-Corp return. Many Irving business owners in consulting, real estate services, IT contracting, and professional services cross this threshold quickly given the area’s strong economy and above-average household incomes.
How much can an S-Corp save me in self-employment tax?
The savings depend on the gap between your total business profit and the reasonable salary you pay yourself. For example, if your Irving consulting business earns $180,000 in profit and you set a reasonable salary at $90,000, the remaining $90,000 passes through as a distribution that is not subject to the 15.3% self-employment tax. That is roughly $13,700 in annual savings. We run the exact numbers for your situation during a tax planning session, which starts at $197.
What is a reasonable salary for an S-Corp owner in Irving?
The IRS requires S-Corp owners who perform services for the business to pay themselves a “reasonable” W-2 salary before taking distributions. Reasonable means comparable to what someone in a similar role, with similar experience, would earn in the Dallas-Fort Worth area. We research compensation benchmarks specific to your industry and Irving’s labor market to set a salary that maximizes your tax savings while standing up to IRS scrutiny.
Can you file a late S-Corp election for my Irving business?
Yes. The standard deadline to elect S-Corp status for the 2026 tax year was March 15, 2026 (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 reasonable-cause requirements. We have successfully filed late elections for Irving business owners and can evaluate whether your situation qualifies.
Does Texas charge a state income tax on S-Corp income?
Texas has no state personal income tax, which makes the S-Corp structure even more powerful for Irving business owners. However, Texas does impose the Franchise Tax (sometimes called the margin tax) on businesses with total revenue above $2.47 million, or a no-tax-due threshold of $1,230,000. We file the required annual Franchise Tax Report and Public Information Report for Irving S-Corps, with fees ranging from $250 to $500.
What does the full S-Corp setup process look like for an Irving client?
We start with a free consultation to review your income and entity structure. If the S-Corp election makes sense, we prepare and file Form 2553, set your reasonable salary, establish payroll, and build a compliance calendar for your quarterly and annual filings. The entire process from first call to completed election typically takes two to three weeks. Irving clients handle everything virtually, so there is no need to visit our office unless you prefer a face-to-face meeting.
Get Started from Anywhere in Irving
Ready to find out how much an S-Corp election could save your Irving business? Book a free, no-obligation consultation with Al Freideman, CPA. We will review your current tax situation, run the self-employment tax savings calculation, and tell you whether the election makes sense for your income level. The entire process works virtually, so whether you are in Las Colinas, near the Irving Convention Center, or anywhere else in the city, we are just a call or click away. Call us at (972) 893-3481 or schedule your consultation at agfreideman.com/meeting/ to get started.
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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Book your free consultation with Al Freideman, CPA. 30+ years experience serving Dallas-Fort Worth.