Home Based Business; C-Corp, S-Corp, or LLC?


A brief discussion of the different forms of business. The selection of the structure of the business may affect the income tax.

Video credits to James Hughes YouTube channel





  • Your reaction?
    Now I Know Now I Know
    0
    Now I Know
    Wow! Wow!
    0
    Wow!
    Surprised Surprised
    0
    Surprised
    Lol Lol
    0
    Lol
    Nice Nice
    0
    Nice
    Sad Sad
    0
    Sad
    Love It! Love It!
    0
    Love It!
    Angry Angry
    0
    Angry
    WTF WTF
    0
    WTF

    Home Based Business; C-Corp, S-Corp, or LLC?

    Comments 5

    1. You won't save your assets, and that's for sure. I disagree set up an LLC or a Corporation, either one of these will provide you asset protection, but not a sole proprietor, a sole proprietor uses your personal ss#, which is linked to that specific person, so when there are law suits, guess who's assets they'll come take? Where as in a corporation or an LLC, it uses its own tax ID #, which is similar to a ss#, but for the business, so if the business gets sued, they can only come after the business assets, not personal. I hope this helps someone.

    2. What exactly does leaving the profits in the corporation do? If you could do that. Increased dividends for everyone including the CEO?

    3. THANK YOU VERY MUCH!  easy to understand, right to the point (without the on- & on jibber jab)..

    4. I totally disagree. The people looking at starting a business need to be very concerned about their assets. Just because I do something non-complicated doesn't mean I can't find myself in a "complicated lawsuit". 

      Filing an S-Corp tax over filing a sole proprietor may be "easier", but you pay almost 10% more with sole proprietor tax than you do if you are S-Corp'ed. Secondly, your spouses income can influence that bracket level with an Sole Proprietorship versus an S-Corp.

      Between the Limited Liability, the Tax break and the "rights" given to any partners, there's absolute benefits in S-Corp'ing one's business.

    Comments are closed.

    log in

    reset password

    Back to
    log in