LLC vs S Corp: Which is BEST for Your Business? [The Great Debate Settled]

[@anneadam2383]

Good Morning. Can you reverse a tax election? Example you chose S Corp one year then next year you want to be a tax as Sole proprietorship

[@jenninemorel7693]

You can change your tax election or completely restructure. Restructuring is better though

[@anneadam2383]

@@jenninemorel7693 thanks😊

[@houstonshomeautomation3524]

I'll have to revisit this next year. I think I'll make about 90 100 k in profit but that money is propping up my house. I can take sect 179 on the van this year to hide again. Next year I won't be so fortunate. Guys I really need a service where I can be Hand held through the grant process. Right now , it difficult to make time for growing my main buisness because I have to drive lyft to keep the lights on. Tried to refi, but they said I needed 2 years of earnings . My only way out is to grind my ass off for 10 more months and wait to do an sba loan. Sherman did a great video on emphasizing THE GRIND . Because boy do I feel it ! Cheers guys !

[@marioestrada8549]

Thank you for the easy to follow information. Every teacher I had would explain this information in a very difficult to follow format.

[@Pursuit_Of_Speed]

What entity is the best for reinvesting the profits? Great video

[@tylerlawal]

i’d like to know this as well!

[@badboy....6092]

Drop That Knowledge Queen

[@letty2348]

I have a corp and need help

[@MrNOAH504]

Great and informative video,and I'm still confused. 😐

[@HelpANiggaOut]

Both. I combine them. I have a S corp in a LLC.

[@freshonclound9]

Not all hero wear Capes

[@jenninemorel7693]

Which one is the holding company?

[@nbarbee50]

Help!!!!! I should have done more research I need help

[@nbarbee50]

@@jenninemorel7693 I got my LLC this month but I think I should have gotten an S Corp it's just me no employees and I dont want all the taxes

[@jenninemorel7693]

@@nbarbee50 I am not an attorney; I am an accountant and a business consultant. However, I have had the fortunate opportunity to have a few attorneys to work with for several years now. Depending on your business model and the products/services you provide, you would be better suited as an S or C Corp. Do you have a small business resource center in your area? Do you have a SBDC (Small Business Development Center) in your area? If not, there are a few resources I can steer you towards.

[@FinancialFreedomMadeSimple]

very informative video