Understanding S-Corps

TOP3SMALLBIZLEGALISSUES7-1 - The Legalpreneur

As a small business owner, I’m sure you’ve asked yourself the question: ‘Should I file as an LLC or an S-Corp?’ The truth is, this is actually the wrong question to ask! Unlike an LLC, which is a business structure, and S-Corp only has to do with your tax filing status. Tune in to gain a deeper understanding of what exactly an S-Corp is, and how it can help you with tax liability. 

In this episode, we’ll cover: 

  • The reason why you should file as an LLC as soon as possible (check out our whole episode on LLCs here!

  • What an S-Corp truly is

  • The pros and cons of filing an S-Corp election

  • How to know when it’s time to file your business as an S-Corp 

  • Why it is so important to work with a trusted accountant when setting up the details of your S-Corp. 

What did you get from this episode?Take a screenshot of this episode, add it to your Instagram Stories, tag @andreasagerlaw and let me know! 

Do you need a great service to help with your payroll? I use Gusto, and I love it! I run payroll for both of my businesses with Gusto, and I pay less than $100/month to run payroll for my entire staff. Sign up here for $100 back after you run your first payroll with Gusto. 
This week’s episode sponsored by TheContractVault.com 

With over 80 contracts and counting, The Contract Vault is your all-access pass to industry-specific template contracts. Our contract templates are constantly being updated to reflect new changes in the law to ensure that you and your business are fully protected. 

Plus, members of The Contract Vault have access to our Members-Only Facebook Group, where each month I will be teaching deep dives on important topics that you need to know to protect your business. Think of it as your Business Legal School. 

Check out The Contract Vault here! Use promo code “LEGALPRENEUR” for a secret special discount!  

Sign up for Legalpreneur Text Alerts

Text ‘PODCAST’ to 832.225.3164 to enroll in our Legalpreneur text alerts! You’ll receive alerts about new episodes, exclusive giveaways, and more. It also will allow you to chat 1-on-1 with me! 

Links: 

Instagram 

Website 

Facebook

Twitter 

Transcript

Disclaimer: 

The Legalpreneur Podcast is advertising/marketing material. It is not legal advice. Please consult with your attorney on these topics. Copyright Andrea Sager Law 2020

TOP3SMALLBIZLEGALISSUES7-1 - The Legalpreneur