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

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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.
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Fees are as follows $89 + state fee + $9 for BOI (this optional but recommended as failure to do so can result in a fine of $500/day)
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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:
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📖 To learn more about why you may want to choose an S-Corp, visit:
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📚 To decide about which business structure best suits you, visit:
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💼 How to Form an LLC:
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Visit howtostartanllc.com to learn about LLC formation, and other useful information for starting a business in your state, like:
🔎 What is an LLC:
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🔎 Check out our Business ideas tool:
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