Posts Tagged ‘Sole-proprietorship’

Pros and Cons of Sole-Prop, LLC, C Corp and S Corp

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model-tAt Independent Contractor Tax Advisors, we consult contractors on the various business structures available to them everyday. We often hear, “which business entity is the best for me?” The answer, like many issues involving taxes, is “it depends.” You essentially have four structures to chose from (Sole proprietor, LLC, C Corp, S Corp), and when making your choice, there are three things you need to consider: simplicity, legal protection, and taxes. Read More [wp-svg-icons icon=

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Posts Tagged ‘Sole-proprietorship’

Pros and Cons of Sole-Prop, LLC, C Corp and S Corp

Posted by
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model-t

If you are an independent contractor or freelancer and are trying to decide between operating as a sole-proprietor or an S corporation, there are about 3 factors you want to consider: simplicity, legal protection, and taxes. If you earn over $30,000 annually, it makes sense in 99% of scenarios to form an LLC, which then ELECTS to be treated as an S corp for tax purposes with the IRS. Read More

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