I'm looking at LLC vs S-corp, what's the tax difference for me?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

The tax difference between an LLC and an S corporation often depends less on the label and more on how the business is taxed, how much profit it generates, and whether the owner takes compensation from the company. An LLC can be taxed in several ways, while an S corporation is a tax election with it 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.