S-Corp CPA in Lewisville, TX: S-Corp Election and Tax Services
Lewisville business owners are in a strong position right now. With a median household income around $95,000 and a local economy fueled by steady growth across the Dallas-Fort Worth corridor, more Lewisville entrepreneurs are crossing the income threshold where an S-Corp election can meaningfully reduce their tax burden. If your business is generating $60,000 or more in net profit, you could be overpaying in self-employment tax by thousands of dollars every year without an S-Corp structure in place.
Our Services
Our S-Corp Election and Tax Services for Lewisville Clients
When you work with us on your S-Corp election and ongoing tax compliance, here is exactly what you receive:
- S-Corp eligibility analysis: We review your Lewisville business structure, revenue, and profit to determine whether electing S-Corp status will produce real tax savings or whether your current setup already works best.
- IRS Form 2553 preparation and filing: We complete and submit your S-Corp election to the IRS, including late election relief filings if you missed the standard deadline.
- Reasonable salary determination: We research comparable compensation for your role and industry in the Lewisville and DFW market, then document a defensible salary figure that satisfies IRS requirements while maximizing your savings.
- Annual Form 1120-S preparation: We prepare your S-Corp return, including Schedule K-1 distribution reporting for each shareholder, priced at $1,000 to $2,000 depending on complexity.
- Payroll setup for owner compensation: We coordinate payroll processing so your salary payments, withholdings, and quarterly payroll tax deposits are handled correctly from day one.
- Texas Franchise Tax and Public Information Report filing: Your S-Corp must file annually with the Texas Comptroller. We handle this for $250 to $500, keeping your Lewisville business in good standing with the state.
Why Lewisville Businesses and Residents Choose AG Freideman, CPA
30+ years of tax and accounting experience: Al Freideman has guided hundreds of business owners through S-Corp elections across dozens of industries. For Lewisville clients running everything from professional services to construction to e-commerce, that depth of experience means we have seen your situation before and know how to handle it correctly.
Virtual appointments that serve all of DFW: Our office is on Preston Road in North Dallas, but most Lewisville clients work with us entirely by video call, phone, and secure document upload. You get the same personal attention without leaving Lewisville.
Transparent pricing with no surprises: We publish our rates openly. S-Corp returns run $1,000 to $2,000, and we quote your specific engagement before any work begins. Lewisville business owners who have been burned by vague billing from other CPAs appreciate knowing the cost upfront.
52 five-star Google reviews: Every single review from our clients is five stars. That track record reflects the personal attention Al provides to each client, including Lewisville business owners who need a CPA they can count on year after year.
S-Corp Election and Tax Questions from Lewisville Clients
When does an S-Corp election make sense for a Lewisville business owner?
An S-Corp election typically starts making financial sense when your business nets $60,000 or more per year in profit. At that level, the self-employment tax savings from splitting income between salary and distributions usually outweigh the added cost of payroll and a more complex tax return. Many Lewisville business owners reach this threshold quickly given the area’s strong local economy and above-average household incomes.
How much can an S-Corp save me in self-employment tax?
The self-employment tax rate is 15.3% on net earnings (combining the 12.4% Social Security tax up to the $176,100 wage base in 2026 and the 2.9% Medicare tax). If your Lewisville business earns $120,000 in profit and you set a reasonable salary of $70,000, you would only pay self-employment tax (via payroll taxes) on the $70,000 salary. The remaining $50,000 passes through as a distribution, saving you roughly $7,650 in self-employment tax. We run these exact numbers for your situation during your 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 a “reasonable” salary before taking distributions. Reasonable means comparable to what someone in a similar role would earn in your geographic market. For a Lewisville business owner, we research compensation data for your specific industry and role in the DFW area, then document the figure so it holds up if the IRS ever questions it.
Can you file a late S-Corp election for my Lewisville business?
Yes. The IRS allows late S-Corp elections under Revenue Procedure 2013-30 if you meet certain eligibility requirements, including filing within 3 years and 75 days of the intended effective date. We regularly file late elections for Lewisville business owners who did not realize the deadline had passed. We prepare the required reasonable cause statement and submit Form 2553 with the appropriate relief request.
Does Texas charge a state-level tax on S-Corps?
Texas has no state income tax, but it does impose the Texas Franchise Tax (also called the margin tax) on most business entities, including S-Corps. The tax applies to businesses with total revenue above $2.47 million, though all S-Corps must still file the annual Public Information Report. We handle both filings for our Lewisville clients as part of our S-Corp tax services.
Do I need to form an LLC before making an S-Corp election?
You do not need an LLC to elect S-Corp status. A sole proprietorship can incorporate as a corporation and then elect S-Corp treatment. However, most Lewisville business owners choose to form a Texas LLC first (filing fee of $300 to the Secretary of State) and then elect S-Corp tax treatment. This gives you the liability protection of an LLC combined with the tax benefits of S-Corp status. We offer LLC formation for $350 plus the state filing fee, and registered agent service is included free with any tax or bookkeeping engagement.
Get Started from Anywhere in Lewisville
Whether you are near Lewisville Lake, in the Vista Ridge business district, or anywhere else in the city, we make it simple to get started. Book a free, no-obligation consultation at agfreideman.com/meeting/ and we will review your business financials, run the self-employment tax savings calculation, and tell you whether an S-Corp election makes sense for your specific situation. You can also call us directly at (972) 893-3481 or email inquiries@agfreideman.com. Al Freideman handles every Lewisville S-Corp engagement personally, so you will always work with the same experienced CPA who knows your business.
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.
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Book your free consultation with Al Freideman, CPA. 30+ years experience serving Dallas-Fort Worth.