S Corp vs LLC (Should you choose an S-Corp status?)

For Businesses that are profitable, and the goal is to take the profit out of the company in a tax efficient manner, S-corp is a great tax designation to elect for your business., potentially saving thousands depending on the level of profitability of your business.

Schedule a FREE CALL with a Tax Professional:
https://go.truic.com/4i0WjGr
(See how much could save on your taxes)

💼 For LLC Formation: 75% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - https://go.truic.com/3RWQnnA
Fees are as follows $29 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)

🏆 For S-Corp Formation: 60% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - https://go.truic.com/3RR4MS4
Fees are as follows: $89 + state fee + $9 for BOI (this optional, but we recommend it as failure to do so can result in a fine of $500/day)

Recommended formation service - We have negotiated with Northwest to provide the best discount and packages for our users, we get compensated when users use our discount links.

🧮 To see how much you can save by forming an S corp check out our Scorp calculator:
https://howtostartanllc.com/form-an-l...

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LLC vs S Corp? If you run your own business, or maybe you are just starting out, and are confused about the distinctions between an LLC and an S-Corp, or S-Corps in general, you are in the right place.

In this video we are going to talk about: what an S-Corporation, or S-Corp is; the benefits of an S-Corp; the complications, and potential drawbacks, of an S-Corp; and finally, how to decide whether or not choosing an S-Corp classification is right for you.

TIMESTAMPS
0:00 - Intro
0:30 - Disclaimer
0:40 - What is an S-Corp?
2:10 - The Benefits of and S-Corp
3:53 - The Drawbacks of an S-Corp
6:27 - S-Corp: How to Decide?
7:13 - Conclusion

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𝗙𝗿𝗲𝗲 𝗚𝘂𝗶𝗱𝗲𝘀 𝗮𝗻𝗱 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻:

🎓 For more information on the differences of an LLC and an S-Corp, visit:
https://howtostartanllc.com/form-an-l...

📖 To learn more about why you may want to choose an S-Corp, visit:
https://howtostartanllc.com/form-an-l...

📚 To decide about which business structure best suits you, visit:
https://howtostartanllc.com/choosing-...

💼 How to Form an LLC:
https://howtostartanllc.com/form-an-llc

Visit howtostartanllc.com to learn about LLC formation, and other useful information for starting a business in your state, like:
🔎 What is an LLC:
https://howtostartanllc.com/what-is-a...
🔎 Top Five LLC formation services:
https://howtostartanllc.com/reviews/l...
🔎 Free legal forms, including operating agreement templates, employment contracts, NDAs, and other documents at:
https://howtostartanllc.com/legal-forms
🔎 Check out our Business ideas tool:
https://howtostartanllc.com/business-...

🔥 At TRUiC we are dedicated to providing the most useful information for small business owners, and would love to see your feedback in the comments on what other information you need to help follow your entrepreneurial dreams.

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