If limited liability companies (LLC) and S corporations are
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If limited liability companies (LLC) and S corporations are both taxed as flow-through entities for tax purposes, why might an owner prefer one form over the other for tax purposes?
List the tax factors supporting the decision to operate as either an LLC or S corporation.
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Solution Summary
If limited liability companies (LLC) and S corporations are both taxed as flow-through entities for tax purposes, why might an owner prefer one form over the other for tax purposes?
List the tax factors supporting the decision to operate as either an LLC or S corporation.
Solution Preview
Many people prefer an S corporation because the owners go on payroll and have regular payroll taxes withheld, which act as an expense for the corporation and salary for the shareholder. However, there are also a number of advantages to having an LLC. In an LLC, there is no ...
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