![]() ![]() The W2 Employee - An employee being paid as a W-2 wage earner is simplest way of being employed. If there are any legal actions taken against the business it will include the business owner’s personal assets and make them responible for any judgements against the company. This type of business entity has fewer tax deductions available as compared to an S-Corp and it is taxed at over 15% on net income. The Sole-Proprietor with no LLC - A person being a sole-proprietor without the LLC is not a desirable business set up. An S-Corp also is not taxed on it’s net income as that flows to the individual shareholder of the company. The LLC prevents lawsuits or claims against you personally and limits it to the business. It provides the best liability protection and the most tax benefits. The LLC as an S-Corp - An LLC formed as an S-Corp is generally the best option for anyone owning a small business. ![]()
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