So you're weighing out the differences between forming an LLC and an S Corp. Both offer tax advantages and benefits but the structure you choose should be dependent on your business' goals and needs. In this video we're going to compare LLC's and S Corps, talk about taxation and show you the steps to get your business started.

An LLC is a common form of business. It protects its owners from liabilities such as debts & legal actions, while also using pass-through taxation. One thing to note about LLC's is that they offer flexible management and can be owned by either one person, or an unlimited number of members.

S Corps are similar to LLC's in that they also protect owners from liabilities and they offer pass-through taxation. However, they are limited to 100 owners. In addition to pass-through taxation, S Corps also avoid self-employment tax when they pay dividends.

#llcvsscorp #llc #smallbusiness #payments #scorp #howtostartabusiness #startabusiness

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Additional Resources

Sole Prop vs LLC ➡️    • Sole Proprietorship vs LLC: Which One...  
How to Determine Your Organization’s Business Structure ➡️ https://paymentcloudinc.com/blog/how-...
What is an LLC and is it Right For Your Business? ➡️https://paymentcloudinc.com/blog/llc/...
How to Get an EIN Number for Your Business ➡️ https://paymentcloudinc.com/blog/how-...
8 Small Business Legal Requirements to Consider ➡️ https://paymentcloudinc.com/blog/smal...
How to Start a Business in 2024: Everything You Need to Know ➡️
https://paymentcloudinc.com/blog/star...

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Apply for a merchant account with ☁️PaymentCloud☁️ ➡️ https://paymentcloudinc.com/apply/?ti...

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Chapters

0:00 - Intro
0:26 - Overview of LLC and S Corp
1:13 - TAXES: the key difference
1:45 - Other differences of LLC vs S Corp
2:05 - Pros & Cons
3:07 - Which one should you pick?
3:49 - How to Form LLC's and S Corps

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