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SCorp vs LLC

by thescienceofwealth
4 replies
Does anyone here have knowledge about which business entity is better, an SCorp or LLC?

I've worked with a CPA for years and he's an expert in internet marketing tax structure and he had me form an SCorp for my business but I'm now hearing rumblings about how that might not be the best structure.

Pros and Cons?
#llc #scorp #scorp vs llc
  • Profile picture of the author Anonymous Affiliate
    Why exactly did your CPA advice you for a sCorp? any specific reason?
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  • Profile picture of the author wesawu
    Many years ago a sub SCorp was the best thing around, I had one myself. That was until the laws changed and the LLC's became more popular and provided the same better protection for the members (owners). I haven't had a sub SCorp for at least 18 years.
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  • Profile picture of the author anthonyfrye
    The big difference between SCorp and LLC is taxes. You are not subject to disability and state unemployment taxes as an LLC, unlike an SCorp. However, as an LLC, you do have to pay quarterly taxes. If you aren't good with keeping on top of that, enter a SCorp and have a service automatically deduct those taxes from your pay.
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  • Profile picture of the author Tsnyder
    Originally Posted by thescienceofwealth View Post

    Does anyone here have knowledge about which business entity is better, an SCorp or LLC?

    I've worked with a CPA for years and he's an expert in internet marketing tax structure and he had me form an SCorp for my business but I'm now hearing rumblings about how that might not be the best structure.

    Pros and Cons?
    Rumblings from who? What knowledge and experience do these rumblers
    have that you think might be superior to that of a recognized expert?

    Best advice... ignore rumblings on the internet.
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    If you knew what I know you'd be doing what I do...
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