All others are excluded. How To Choose Between an LLC and an S-Corp With so many similarities, it can be difficult to decide whether you need an LLC or an S-corp.

Notably, an LLC can opt for S-corp classification for tax purposes. Therefore, it’s essential to compare LLC vs. S-corp options when forming your business or reaching a certain profitability level.

For instance, one of my small business owner clients recently asked me whether it made sense for her to reorganize a single member LLC into a solo S-Corporation because of the new law.

For instance, upon the death of the owner of a single-member LLC, the business may have to be dissolved unless there was an operating agreement in place stating otherwise.

Answer all your single-member LLC questions with this handy, FAQ guide today.

Here’s an overview of how that usually works: Single-member LLC The owner of a single-member LLC withdraws money by taking an “owner’s draw”—writing themselves a business check or (if ...

Unlike being taxed as a single-member LLC (disregarded entity) with all profit subject to self-employment taxes, as an S corp, only the business owner's wages and salaries are subject to Social ...

However, for many two-member LLCs that become single-member LLCs, one or more of the above statutory provisions may be inappropriate. Thus, the remaining members of two-member LLCs, by themselves or ...

As an LLC, how do I pay myself, is a common question asked by business owners. We go into the best ways you can get paid from your company in this article.

Selecting the correct business type can help your business succeed and flourish. Find out whether your company should be an LLC or an S corporation.