The idea of starting a new company (S Corp and LLC) can create a lot of joy and motivation but there are many hurdles and hoops to jump through. The financial choices made in the beginning often predict whether a start-up will reach success or run out of gas quickly. For example, choosing the correct infrastructure is a crucial part of reducing your tax burden and increasing your profits. Don’t make the common mistakes. Let this Miami Consulting Firm help you setup for success.
S corps are considered pass-through entities, which means that your business doesn’t pay taxes on the profits you earn—you, the owner do. Unlike C corps, where both the business and owners pay income taxes, an S corp avoids double taxation as a pass-through entity.