How do I know if my LLC should be taxed as an S-corp?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

Whether an LLC is a good fit for S-corp taxation often depends on how much net income the business produces, how much of that income is reasonable compensation for the owner’s work, and whether the added payroll and filing requirements fit the company’s operations. The answer also varies with owners For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.