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Crucible Ledger Co.

S Corp Calculator

Should you elect S corporation status?

Put in what your business makes and the salary you would pay yourself. You will see what electing would save or cost you in a year, after the cost of running one, on federal and state tax.

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Nothing you type here leaves this page. The math runs on your own screen, and using it won’t put you on a mailing list.

Example figures. Put in your own.

Hawaii and 48 other states.
Before anything you pay yourself. One owner.
Paid through payroll on a W-2. It has to be reasonable for the work you do, and most of the answer turns on it.
A spouse's wages, interest, anything taxed that is not this business.
Go deeper: home office, car, home rent
Only what isn’t already taken out of the profit above. Each one is counted on the side where the tax law allows it.

Home office

Rent or mortgage interest, utilities and insurance.
The room you use only for work, as a share of the whole home.

Your car

Renting your home to the business

For meetings at your home. 14 days at most.
What a similar meeting space would cost.
More detail

What an S corporation costs to run

Starting figures. New employers start at 2.4 percent unemployment. A family corporation that employs only family members who each own at least 50 percent can elect out of Hawaii unemployment under HRS 383-7(20). If yours has, put zero. Other payroll cost means TDI, prepaid health care and workers comp, where they apply to you as the owner.

About you

About the business

These lose the qualified business income deduction at higher incomes.

The chart

The chart needs one rule for the salary at every level of profit.

Federal and Hawaii rates for the 2025 and 2026 tax years; other states for 2026. Each rate is read at its IRS or state tax department source. Updated October 29, 2026.

Next steps

Want one firm to handle your books and taxes?ACB Logistics handles the books, tax returns and planning for small businesses, and starts with a free look at how yours is set up. Email me and I’ll introduce you.

I get a referral fee from ACB Logistics if you hire them.

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