I want to be taxed as an S Corp, so my business attorney filed articles of incorporation with my state and chose "profit corporation", but a colleague of mine says my attorney made a mistake and should have chosen "LLC", I'm going to be the only employee in the business (I'm a freelance writer).
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As far as income taxes are concerned, there's no difference between an S corp and an LLC that elects to be taxed as an S corp. There may be other reasons that your attorney chose to form a corporation. Ask the attorney to explain the reasons.
As far as income taxes are concerned, there's no difference between an S corp and an LLC that elects to be taxed as an S corp. There may be other reasons that your attorney chose to form a corporation. Ask the attorney to explain the reasons.
why do you want to be taxed as a S-Corp rather than just a plain LLC that doesn't make A S-corp election? do you think you can avoid the self-employment taxes an LLC would pay on net income and thus pay only regular income taxes on the net income? post back and I'm sure you'll receive an enlightenment. .
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