Choosing between an LLC and electing S-Corp taxation can affect your taxes, liability, and how you pay yourself. LLCs are flexible and simple to manage, while S-Corp election may reduce self-employment taxes if your business earns enough profit. Understanding the differences helps small business owners pick the best fit for their goals.
Starting a business? Before you register, take these five steps: define your idea, choose the right structure, check name availability, review permits, and separate finances. Preparing early gives your business a strong foundation for growth and success.
