Episode 29: Understanding S Corp and LLC Taxes
In today's episode of Purposeful Profit, I'm helping answer one of the most common questions I get from business owners:
"Should I be an S corp or an LLC?"
And the answer is, they really are not mutually exclusive.
You can be an LLC as a legal form AND still elect S corp tax status. And doing so, can generate significant tax savings under the right circumstances.
Join me for this week's episode of Purposeful Profit where I'm exploring LLC and S corp tax treatment and when an S corp makes sense (and why talking to your tax advisor is so important).
You'll learn:
The difference between LLC and s corp tax treatment
When to consider an S corp election
How and when to file for S corp election
Mentioned in “Understanding S Corp and LLC Taxes” :
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