LLC vs S Corp vs C Corp: Which Business Structure Is Right For Your Business?

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Are you trying to choose the best business structure for your startup? You're not alone in this challenging task—did you know that approximately 70% of startups are set up with incorrect business structures?

In this video, I'll discuss the most common business structures—LLCs, S-corporations, and C-corporations—to help you make an informed decision.

Choosing the wrong structure can result in significant financial losses, potentially costing tens of thousands of dollars annually in unnecessary taxes.

LLCs' versatility makes them a popular choice among entrepreneurs. By default, LLCs are taxed as pass-through entities, which means profits and losses are reported on the owners' personal tax returns. With multiple owners, an LLC is taxed as a partnership; with a single owner, it’s considered a disregarded entity, simplifying tax reporting. Furthermore, LLCs offer the flexibility to be taxed as either S-corporations or C-corporations, essentially serving as a Swiss army knife of business entities.

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Show Notes:
0:00 Intro
1:01 Taxation
7:17 Ownerships and Shareholders
9:17 Management
11:11 Profit Sharing & Dividends
16:13 Corporate Formalities & Regulations
21:21 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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