In this video, we'll be discussing the pros and cons of being an S Corporation versus an LLC. We'll explore the benefits of an S Corp business structure, including the potential for lower self-employment taxes. However, we'll also touch on some of the disadvantages of an S Corp, such as more strict regulations.
Next, we'll dive into the LLC, or Limited Liability Company. We'll highlight the flexibility of this structure, as well as the personal liability protection it provides for owners. On the flip side, we'll also discuss some of the drawbacks of an LLC, such as potentially higher taxes.
So, whether you're just starting a business or considering a business structure change, this video is the perfect guide to help you understand the pros and cons of being an S Corporation versus an LLC. Tune in to make an informed decision for your business!
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00:00 Introduction & Background
03:48 Pros of LLC
05:07 Cons of LLC
06:51 Pros of S Corp
10:14 Cons of S Corp
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**DISCLAIMER: This video is meant for educational purposes only. This is not to be relied on or considered a substitute for advice on your specific situation from your tax advisor.
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