LLC vs S-Corp & Entity Choice
“What's the tax impact of choosing an LLC over an S-corp for my business?”
Choosing between an LLC and an S-corp can affect how business income is reported, how owner pay is treated, and how payroll and recordkeeping are handled. In many cases, the tax impact depends on whether the business has active profit, how much of the owner’s compensation is tied to services, and how state-level filing and franchise tax rules apply. The entity label alone does not determine the outcome, since an LLC can often be taxed in different ways, while an S-corp has its own ownership and administrative requirements. The practical comparison often turns on profit level, payroll setup, and compliance burden. A focused session can map this against your actual situation in plain English.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“As a freelancer in Alabama, should I form an LLC or elect S-corp?”
“As a freelancer in Alaska, should I form an LLC or elect S-corp?”
“As a freelancer in Arizona, should I form an LLC or elect S-corp?”
“As a freelancer in Arkansas, should I form an LLC or elect S-corp?”
“I formed a single-member LLC but forgot to get an EIN, can I just use my Social Security number on my Schedule C without issues?”
“I am transitioning my W-2 income into a consulting business, does electing S-Corp status actually lower my self-employment tax?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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