LLC vs S Corp: Which is BEST for Your Business? [The Great Debate Settled]

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Learn everything you need to know about choosing between an LLC and S Corporation right here!

Video Outline:
Intro: (0:00)
Why Choosing the Right Entity is Important?: (1:32)
Similarities Between LLC and S Corp: (2:55)
Differences Between LLC and S Corp: (3:23)
LLC Taxation Example: (5:24)
S Corp Taxation Explanation: (6:11)
S Corp Taxation Example: (7:42)
Is S Corp Right for Your Business?: (8:40)
S Corp Requirements: (9:17)
Recap: (9:53)

This video is all about the similarities and differences between your business being an LLC or S Corporation

Choosing between these two taxation classifications can literally be the difference in paying the IRS thousands more in taxes.

Stop overpaying on taxes and learn which entity is best for your business.

Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
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Thank you for the easy to follow information. Every teacher I had would explain this information in a very difficult to follow format.

marioestrada
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I'll have to revisit this next year. I think I'll make about 90 100 k in profit but that money is propping up my house. I can take sect 179 on the van this year to hide again. Next year I won't be so fortunate. Guys I really need a service where I can be Hand held through the grant process. Right now, it difficult to make time for growing my main buisness because I have to drive lyft to keep the lights on. Tried to refi, but they said I needed 2 years of earnings . My only way out is to grind my ass off for 10 more months and wait to do an sba loan. Sherman did a great video on emphasizing THE GRIND . Because boy do I feel it ! Cheers guys !

houstonshomeautomation
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Good Morning. Can you reverse a tax election? Example you chose S Corp one year then next year you want to be a tax as Sole proprietorship

anneadam
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Both. I combine them. I have a S corp in a LLC.

HelpANiggaOut
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What entity is the best for reinvesting the profits? Great video

Pursuit_Of_Speed
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Great and informative video, and I'm still confused. 😐

MrNOAH
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I should have done more research I need help

nbarbee