By Jason Watson (Google+)
This KB article has been superseded. Please see our updated articles.
Perhaps. Reducing your self-employment taxes is the main reason LLC owners want to convert to an S-Corp. There are some issues such as payroll, corporate tax return requirements and passive incomes. But if you have over $10,000 in net profits, you might want to give it some serious consideration. Please read our tax article on the Sub-S election and becoming an S-Corp at-