Legalpreneur Member Training Videos with Q&A

What is an S Corp?

What is an S-Corp? Also known as sub-chapter S, it is an IRS designation for either LLC’s or corporations. An S-Corp is not actually an entity in and of itself. A lot of people will ask the question, should I be an LLC or an S-Corp? Should I be a corporation or an S-Corp? That’s actually the wrong question. You have to first be an LLC or a corporation and then make the S-Election. I’m going to explain this from the LLC side first.

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