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 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 this episode:
- S Corp Tax Calculator
- Ready to put more profit in your pocket? Book your financial health assessment to continue the conversation
Other resources:
Get your Simple Financials Bookkeeping template
Get Your 30 Days of Money Mindset Prompts
DISCLAIMER: The information in this podcast is for informational purposes only and does not constitute an accountant-client relationship. While we use reasonable efforts to furnish accurate and up-to-date information, we assume no liability or responsibility for any errors, omissions or regulatory updates.
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