Understanding S-Corps

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! 

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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!  

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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

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