#435 The People's Show - Open Forum
Main Street Business
00:00
How to Keep Your Business in LLC and Taxes in S Corp
J. Co.: My CPA wants to keep my businesses in LLC and taxes in S corp but not do an election. I spoke to two other CPAs and they disagreed and said, I should do an S election. Now I'm just confused what to do. JCO: Have a side hustle, small business, and operate as an LLC. Do you net make at least $40,000? You're taking home 40. This is after all your write-offs. And it morphs your LLC into an S corporation. Simple, straightforward.
Transcript
Play full episode
