HIGHEST POTENTIAL FOR TAX SAVINGS
Why form your LLC with an S Corp election?
To avoid paying corporate tax rates.
To keep from being double taxed on your personal and business income.
You can limit tax liability on social security and Medicare by paying yourself as an employee.
What are the tax implications?
An LLC with an S Corp election keeps you from being double taxed on your personal and business income.
You’ll pay yourself as an employee of the LLC, which means you can limit your tax liability for social security and Medicare.
Your tax rate is income-based, so you may enjoy lower tax rates than corporations.
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