Explained: Different LLC Tax Classifications And Their Advantages

If you’re an entrepreneur who needs to know the first steps to starting your own business for the first time, you need to watch this video. Here, you’ll learn three things: first, you’ll learn about the five different types of LLC tax classification for businesses, second, you’ll learn the unique advantages of filing as an S corporation, and finally, you’ll learn how to make the best decision possible to start a small business LLC with the appropriate corporate structure. This makes a big difference when filing LLC taxes.

A limited liability company (LLC) is one of the most common types of business entities around. Despite their popularity as a business structure, limited liability companies do not have their own tax classification. Depending on how many members are in the LLC, your business can be taxed in different ways. As a business owner, this could drastically change how much taxable income you have at the end of the year. In this post, we will cover the different LLC tax classification options you can choose from.

Disclaimer: Not advice. For educational or informational purposes only. Use at your own risk.

[noblesupreme]

Been searching for a good breakdown. Watch numerous videos and this is by far the best, thank you

[mccellanhurst]

Thank You for such a direct I am starting now that youve explained perfectly!!!! GodSpeed!!!