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S Corp vs. C Corp: Which One’s Better for You?

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  A multitude of  corporations  exists that include LLCs , C Corps, and S Corps. Each of these comes with individual pros and cons. S Corps and C Corps are considered the same. However, they hold many differences. Essentially, almost every new corporation is a C Corp as it’s considered the standard corporation under the IRS. In this article, we focus on what C Corps and S Corps are and guide you about which one works the best for your business.  The Basics of C Corp and S Corp The difference between the two corporations lies mainly in the IRS code they’re subjected to. C Corporations are taxed under subchapter C  and S Corporations are taxed under subchapter S. The two are almost identical when it comes to their limited liability feature; the members of the corporations aren’t liable personally for any of the losses incurred by the business. They’re both considered separate legal entities; therefore, all transactions are done using the corporations’ names. Along...
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5 Interesting Facts About Limited Liability Corporations

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  Setting up a business  requires you to plan the details of its structure as well. One of the more popularly established structures is of Limited Liability Corporations (LLC). These are compared to corporations  many times, but they hold vast differences as well. Do you think that you know everything there is about LLC companies ? Think again. Here are five interesting facts about LLCs that you probably didn’t know about before.    LLCs Protect Owners from Personal Liability It’s common knowledge that LLC companies protect their owners from personal liability. However, did you know that it works in the same way that it works for corporations? That’s right. LLCs and corporations work similarly when it comes to keeping the liability of the business limited. The members of the LLC don’t need to worry about having any personal liability for the business. There’s No Limit on the Number of Members LLCs can Have There’s another fascinating fact about LLCs: they don’t ...
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Location: United States
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