LLC vs S Corp

What is an S Corporation?First, let's talk about what an S Corp is. An S Corp is a tax election provided by the IRS for your business. An S Corp is not a type of business entity like an LLC or a Corporation. That means an LLC and an S Corp don't have to be mutually exclusive of each other, you can have an LLC that is classified by the IRS as an S Corp and you can have a Corporation that is classif

Does Your LLC Need To Pay Taxes if You Didn't Make Money?

There are numerous reasons you may want to register your business as an LLC, the primary motive being liability protection. When you run an LLC (limited liability company), you can avoid personal penalties for any debts your business runs into. That means that creditors can go after your company's assets but cannot touch any property in your name. Other benefits of owning an LLC include easy start