S Corporation Vs LLC: What's Better?

LLC vs S Corp? What do you do? Let’s say you run your own business or are thinking about starting one, buying rental property. You want to look professional. You also want lawsuit protection and additional tax benefits.

This video talks about S-Corporation (S-Corp) the benefits, taxes, drawbacks and things you should know. We help you decide if choosing the S-election is right for you in 2021.

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TABLE OF CONTENTS
0:00 S Corporation vs LLC
0:20 Business Guy Intro
0:49 S Corporation vs. LLC decision
1:04 What is an S-corp?
1:37 How does an LLC taxed as an S-corp pay its owners?
1:55 S-corp restrictions
2:51 LLC taxed as S-corp paying owners
3:02 Single member LLC
3:36 Multi-member LLC
3:47 S-election & self-employment tax savings
5:00 How to file for S-corp status (with CPA help)
5:16 Downsides / things you should know
9:07 Conclusion

#SCorpVsLLC, #Scorporation, #LLCTax

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. We have attorneys on staff and have CPAs we can refer you to if you are a client. We do not provide advice unless/until legally allowed and if engaged by you.

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