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S Corporation

S Corporation

accountant, Difference Between LLC and S Corp, Is it best to be taxed as an LLC or Sub S Corporation, LLC, Limited Liability Company, Sub S Corporation, pass-through entities, avoid double taxation, payroll tax, S Corporation, S Corp, LLC vs. S Corporation, C corporations, Management Structure of an LLC, Management Structure of S Corporations, Qualified Business Income Deduction, Limitations on Business Losses

Difference Between LLC and S Corp

For federal income tax purposes, there is no such thing as being taxed as an LLC or Sub S. Both are treated by the IRS as pass-through entities which are business entities in which income is passed through to its owners and taxed at their personal tax rate. This method allows businesses to avoid double taxation and potentially reduce their overall taxes owed. However, a single member LLC is taxed as a sole proprietor and will incur additional payroll tax, unlike Sub S. An LLC is not a corporation, it’s a partnership. Talk to an Accountant before you decide.

Miami Accountant Converting C Corporation to an S Corporation or LLC

Miami Accountant Converting C Corporation to an S Corporation or LLC Historically low rates makes converting C Corp to S Corp according to Miami Accountant Gustavo A Viera CPA Current historically low tax rates, scheduled to expire at the end of 2012, plus correspondingly low values for assets like real estate caused by the recession, make …

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