Simplified: ignores QBI deduction and state taxes. S-corp payroll = employer + employee FICA on salary only.
Example: LLC net profit: $120,000 · Owner filing status: Single · S-corp election: reasonable salary: $70,000 → Default (sole prop) total tax: $33,104.
With S-corp election: $27,546
Potential S-corp savings: $5,558
Frequently asked questions
How do I calculate llc tax? Simplified: ignores QBI deduction and state taxes. S-corp payroll = employer + employee FICA on salary only. Enter your numbers above and the result updates instantly. For example: LLC net profit: $120,000 · Owner filing status: Single · S-corp election: reasonable salary: $70,000 → Default (sole prop) total tax: $33,104.
Is this LLC Tax Calculator free? Yes — completely free with no sign-up or paywall. It runs entirely in your browser and keeps working offline; the numbers you enter never leave your device.
How accurate is it? It uses the standard published formula for llc tax. Results are estimates for planning — not financial, tax, medical, engineering, or legal advice.