When you start a business, you choose a legal entity and tax entity. Understanding the difference can allow you to maximize the benefits of both. Today, Jasmine DiLucci, JD, CPA, EA and Lynnsee Starr, JD, explain the difference between the two and review when to choose which type of tax entity.
Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice.
Chapters
(00:00:00) - Introduction
(00:00:50) - Legal Entity v. Tax Entity
(00:05:19) - Tax Entity Choices of an LLC
(00:06:25) - Pros and Cons of Tax Entity Types
Tax Leverage