Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 3, 2019 4:34:12 PM

Sole proprietor LLC instead of s corp

I'm planning on starting medical practice, I will be the sole Dr., most of my colleagues have S corporations, is that any harm in starting off sole proprietor LLC instead of s corp to minimize the headaches and complicating my tax life ? any downsides ?

0 1 926
1 Replies
Expert Alumni
Jun 3, 2019 4:34:14 PM

Please see a comparison completed by legal zoom.  You are correct in that LLC's are easier to manage.  However, there are more tax benefits to the S-corp, such as saving on self-employment taxes.  

https://www.legalzoom.com/articles/s-corp-vs-llc