Is there a break even chart, as an Excel file template or online calculator or something similar, that shows the balance between what your FICA tax savings is between reasonable Scorp salary and total Scorp income (taxing into consideration the FICA wage base limit); the deductions when contributing to a solo 401k, HSA, IRA, or any similar account; and your potential social security benefit in retirement?
Break even chart for S corp wages when considering tax savings, 401K matching, and social security.
byu/YesSmoking intax
Posted by YesSmoking
1 Comment
No.
This is something you hire a CPA for.
You could try building it in ChatGPT / Gemini / Claude but you don’t know enough to know if the answer is right.