Teresa532
Returning Member

S Corp with 100% ownership of LLC

1. My husband has recently established his LLC, and he holds 100% ownership. He is considering filing for S-Corp status for tax purposes. However, we would appreciate your guidance on whether it would be more advantageous to remain as a single-member LLC or to elect S-Corp status. 

 

2. As an LLC-S-Corp, what percentage of the total income would be reasonable to allocate for his salary?

 

Thank you for your advice.