S Corp vs LLC —Part 1 of 7

Written By James Leinbach

S Corporation vs LLC

Business Coach 007

When starting a business, one of the key decisions an entrepreneur must make is choosing the right legal structure. Two popular options for small businesses are S Corporations (S Corps) and Limited Liability Companies (LLCs). Both offer limited liability protection to owners, but there are important differences between the two that can impact taxation, management, and operational flexibility. S Corps are a popular choice for small businesses looking to avoid double taxation and pass through profits directly to shareholders. They offer limited liability protection to owners, similar to LLCs, but are subject to strict ownership and operational requirements. On the other hand, LLCs provide more flexibility in management and ownership structures, making them an attractive option for businesses with multiple owners or those looking for a simpler legal structure. Understanding the key differences between S Corps and LLCs is essential for entrepreneurs looking to choose the right legal structure for their business.

Overview of S Corp and LLC structures Tax implications for S Corporations Tax implications for Limited Liability Companies (LLCs) Liability protection for S Corps and LLCs Choosing between S Corp and LLC for your business.

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James Leinbach

After 27 years in the trades industry, I sold my company and retired. Then two yeas later, I decided to be an advocate for those still working in the trades. My goal is to help the tradesmen to be more successful, work less hours, and to receive a high return on their time invested.

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S Corporation vs LLC Part 2 to 7
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