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What Is The Difference Between An LLC And An S-Corporation?

Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: https://aba.link/fg0 Are you confused about the difference between an S corporation and an LLC? You're not alone! In this video, I'm diving straight into the nitty-gritty details to clarify this common question once and for all. When it comes to the state, you're essentially paying for protections by establishing an entity like an LLC. This shields your personal assets from business liabilities, providing invaluable peace of mind for entrepreneurs like you. 💰 But what about taxes? Here's where things get interesting. Despite popular misconception, an LLC doesn't have a designated tax form. Instead, you get to decide how you want it to be taxed, whether as an individual, partnership, or even an S corporation. 📝 From individuals to partnerships and C corporations, each entity has its own tax form and filing requirements. 🔔 Don't forget to subscribe for more insights on real estate investing and business strategies! Show Notes: 0:00 Intro 3:36 IRS Standpoint 6:43 Third Parties Standpoint 10:39 Tax Perspective 14:51 S-Corp Wages 16:20 Sole Proprietor Example 20:27 Final Notes --------------------------------------------------------------------------------------------------------- SUBSCRIBE https://aba.link/subscribe ~~~~ FREE TAX & ASSET PROTECTION WORKSHOP Register for an upcoming workshop today if you want to protect your business and personal assets from snoopy lawyers and creditors. Save Your Seat: https://aba.link/e44709 TAX TUESDAY LIVE Join us every other Tax Tuesday, where you can have your tax questions answered live by our experts entirely FREE. Register Now 👉 https://aba.link/dqm OTHER ANDERSON ADVISOR EVENTS Learn a rich selection of subjects like tax and asset protection, business, investing, and more. Our partners, attorneys, and other skilled experts will help you learn what you need to know in order to better your chances of success in your professional life. https://aba.link/tobyevents ~~~~ FINANCIAL PLANNING & TAX RESOURCES 📚 Order Your Copy of "Infinity Investing: How The Rich Get Richer And How You Can Do The Same" Here: 👉👉 👉 https://aba.link/IIWbook Order Your Copy of ”Tax-Wise Business Ownership" and find greater success by taking advantage of tax laws for your business. Here 👉 https://aba.link/tobyshop Visit Anderson Advisor's website for content, like articles, podcasts, and more that we publish alongside my channel. 👉 https://aba.link/tobyaba ~~~~ FOLLOW US: Instagram: https://aba.link/instagram Facebook: https://aba.link/facebook Twitter: https://aba.link/twitter LinkedIn: https://aba.link/linkedin TikTok:   / tobymathisesq   ~~~~ CONTACT US Phone: 800.706.4741 Email: [email protected] Fax: 702.664.0545 ABOUT TOBY MATHIS Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba --------------------------------------------------------------------------------------------------------- WARNING: I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name, and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture. The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. #llc #scorporation #corporation #LLCvsSCorp #TaxPlanning #FinancialEducation