LLC vs S-Corp vs C-Corp vs Sole Proprietorship 🏛 Attorney Explains

As a business attorney, I help my clients choose between an LLC vs S Corp vs C Corp vs Sole Proprietorship vs LLC Taxed as S Corp. In this video, I cover the different types of business entities and make my recommendations based upon your business structure and objectives.

This video will cover the differences between each business entity type and the pros and cons of each for tax, liability and asset protection purposes. By the end of the video you'll know what's best for you and your business.

00:00 Introduction on Entity Types (LLC vs S Corp vs C Corp vs Sole Proprietor)
00:50 Entity Type #1: Sole Proprietorship
04:49 Entity Type #2: C Corporation
07:32 Entity Type #3: S Corporation
09:22 Corporate Formalities
10:59 Entity Type #4: Limited Liability Company (LLC)
13:52 Entity Type #5: LLC Taxed as S Corp

Now that you know which entity type might be best for your business, in my next video I'll explain the step-by-step process on how to set up a Limited Liability Company (LLC), including a LLC Taxed as an S Corp. The link to my next video on "How to Create a Limited Liability Company" is:

Thank you!

Best regards,
Chris Jackson
@cjlawvideos

//BIO//
Hi, I'm Chris Jackson. I have over 25 years of experience as a business attorney. I'm also an entrepreneur who has owned, managed and sold at a significant profit multiple franchise coffee houses. In addition, I have finance and operational experience as a Chief Operating Officer (COO) of a large company.

//DISCLAIMER//
Disclaimer: Note that nothing in this video is intended to create an attorney-client relationship. This video and my channel are for general information and entertainment purposes only and should not be construed or relied upon as legal or tax advice (generally or specifically). You should not act or rely on any of the information contained herein without seeking professional legal advice.

#assetprotection #llc #corporation

[cjlawvideos]

If you have the chance, let me know what entity you chose. I wish you all the best in your business ventures.

[justanother]

I appreciate the simple explanations Chris, and the steady eye contact. thanks.

[Dominus_Ryder]

You were so humble and sincere asking for the like on your first YT video…how could anyone not like the video! 👍

[susanoh]

Thank you for the straightforward comparison of a C Corp vs S Corp vs LLC vs LLC taxed as an S Corp. This is one of the best explanations I’ve seen on this topic and made my entity choice pretty easy!

[totio]

Hell yeah, thank you for this information! I’ll be a subscriber for life👍🏾

[Flipflop]

Super helpful video! So glad I stumbled across your channel. Your dog adds a lot of fun character to your videos too.

[fernandomonroy]

Thank you very much, you are very helpful to understand the difference types of business entities.

[jonellkoroyan]

Thank you! You did a great job explaining that. Finally I get it!

[keithignatowicz]

Chris, you did just fine with your first video. I like your easy going concise language. Keep it up, you’ll get more comfortable the more you do. Your topic was great. It answered my confusion on forming a LLC or S corp. It will be an LLC with form 2553 for taxation., the best of both. Thank you! Many others never connect this easy solution when starting a business. Now I need to watch your other videos. Thank you, Keith 🇺🇸

[mike]

After working for a very large corp for 20 years then becoming self employed having now 30 employees and 2m in sales, and recently started purchasing multi family rentals in an another LLC.
I will say the large corp have a combination, the C Corp is the mother, the Corp then owns multiple entity’s. Our payroll came from a LLC. The real estate division was a LLC.

[adriana]

Thank you so much !! You are the best at educating, explaining and answering all of the questions most people find confusing. Thank you so much, gave me so much clarity and hope !

[techfixer]

Home run out of the ball park Llc info. I like how you balance giving enough llc biz information without directly recommending to viewers what entity to choose. Thanks!

[tashalittle]

Thank u so very much for this awesome video

[danielmassaro]

Thank you for the reply! I noticed that there are no specific videos on how to transfer entities (LLC & C CORP) into a holding company. Specifically the transfer of ownership of a single-member entity video is hard to find on YouTube.
From what I've researched, this transfer defines a holding company, thanks.

[ChristianWheel]

Thanks so much for your channel! I'm learning a lot. If I choose to file as a single-member LLC taxed as an S-Corporation, do I need to now file a separate state + federal tax return for my LLC? Or can I report the profit/loss on my personal tax return? Thanks again for all the great info you're sharing. If I can ever reciprocate with computer help please feel free to reach out.

[danielmassaro]

hello, great videos!
can you do a video about how a llc holding company operation agreement differs from a
subsidiary llc.

[davidwilliams]

Chris, big picture because I know things change here or there.
I am the sole shareholder in a 47 year S-corp. It has a legacy name and I want to rebrand. Actually changing a corporate name is a pain in the you-know-what.
What are the advantages, disadvantages of having the new brand as an LLC versus a DBA, etc.
Any idea about the impacts on banking, insurance, employee benefits programs, etc.

[eCommEnt]

Great Content and i love your dog... Quick Question: I assume i can register a Wyoming LLC under my UAE Corporation (Being the owner) and when it comes to applying for EIN can i get a tax number under my UAE Corporation..?

[santezvance]

Hey Chris my name is Bruce and I have a question in regards to the starting of the business do you need to write out a business plan for your business

[oliveholdingsllc]

Great info! If you elect the LLC taxed as S corp, does this then change when taxes are due? ex: March 15 vs Apr 15