What do I need to know about the tax difference between LLC and S-corp for my situation?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

The tax difference between an LLC and an S-corp often depends less on the label and more on how the business is taxed, how much profit it produces, and whether the owner takes money as draws or as payroll. For many businesses, an LLC can be taxed in different ways, while an S-corp election changes h 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.