jeudi 30 novembre 2017

Which is the better Tax election for Single-Member LLCs (Texas)

My company was started as an ecommerce firm. Entity I elected is "LLC", however, since I'm the only member of the LLC the IRS gave me two choices for tax purposes - categorize the entity as a "Sole Proprietorship", or as an "S-Corp".

Being that the business has a single member which is the better selection that gives me an advantage from a taxation point-of-view?

Once you make an election ( SMLLC /Sole Proprietorship vs SMLLC/S-Corp) can you change it.

Thanks in advance for your assistance guys. Really appreciate it.


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