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by brntsllvn
1163 days ago
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S Corp is just a tax filing status. Your legal entity remains an LLC. The benefit of S Corp tax status is that you pay yourself a dividend in addition to your income. They are taxed differently. The drawback is you now have a payroll obligation. An LLC can be single member. An LLC with S Corp tax status cam also be single member. There's a lot of info about S Corp status online. Hopefully this puts the strategy on your radar for more investigation. |
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