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Type: Posts; User: jm7905

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  1. Keep in mind that the W-2 will show wages...

    Keep in mind that the W-2 will show wages (salary, bonuses, etc) but not your share of business profits. For those with ownership of an S-Corp, a multi member LLC, or an LLC taxed as an S-Corp, this...
  2. When you see Inc, it means subchapter C...

    When you see Inc, it means subchapter C corporation or subchapter S corporation. Comparing this to an LLC isn't straightforward because you can be an LLC taxed as a sole proprietor (disregarded for...
  3. The first part of your post is correct about...

    The first part of your post is correct about options for tax treatment of an LLC. The part quoted above is incorrect. Cash can most definitely accumulate on the balance sheet of an LLC, S-Corp, or...
  4. C-Corps are subject to an entity-level tax,...

    C-Corps are subject to an entity-level tax, S-Corps are not. I would assume Insert is focusing on the tax burden of the individual and means that if you are an owner of a C-Corp, you can avoid...
  5. You probably didn't make the wrong choice. You...

    You probably didn't make the wrong choice.

    You can be an LLC and have all income pass through to you and your wife or you can choose to be an LLC and actually make an election to be taxed as an...
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