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LLC vs. S Corp: An Overview A limited liability company (LLC) is a type of business structure taxed like a partnership or sole proprietorship, where taxes are reported on the owners' personal tax ...
An LLC is a legal business structure while S corporation is a tax classification that’s available to some small businesses. Both LLCs and corporations can elect S-corp taxation by filing...
The difference between an LLC and an S corp is that an LLC is a business entity while an S corp is a tax classification. Whether you're curious about establishing an LLC or launching an S corporation, starting a business is an exciting undertaking full of learning experiences.
There are several key differences between an LLC and S corp pertaining to ownership, management, and ongoing formalities. The IRS rules restrict S corporation ownership, but not that of limited liability companies.
The main difference between S-corps and LLCs is that LLCs are generally more flexible than S-corps. For example, S-corps are limited to 100 shareholders, while LLCS can have an unlimited number of members.
Find out the main differences between S corps and LLCs, including how each impacts facets of your business operations, like ownership structure and taxation.
S corp is a tax classification that LLCs can elect. S corp tax status allows LLC owners to be treated like an employee of the business for tax purposes. This can help LLC owners save (a lot of) money on self-employment taxes. Read on to learn how to choose between S corp vs LLC.
An S corporation is a federal tax status, not a legal business entity. To become an S corporation, you must form a legal entity, such as a traditional corporation or an LLC. Then you must elect...
Key differences, pros and cons, and how they are taxed. A guide to help decide which type is right for you, and steps on how to start a corporation or LLC.
Corporations effectively pay taxes twice, on both a corporate income tax return and on the shareholders’ individual tax returns. S corporations and LLCs only pay taxes once: on the shareholders’ individual tax returns. But choosing between the two will depend on the needs and goals of the business. Here’s a quick overview of each.