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
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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.
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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