LLC vs. Inc.: What Is the Difference Between Them?
LLC vs. Inc.: What Is the Difference Between Them?
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NC Planning on Instagram: "What is the difference between an LLC and S corporation in North Carolina? LLCs offer tax filing flexibility, allowing you to be taxed as a sole proprietor, partnership, or S corporation regardless of legal structure. Accountants and attorneys may use different terminology, so working with trusted advisors is essential. Schedule your introductory call with NC Planning at 984-538-1126 or ncplanning.com. #LLCTaxation #NorthCarolinaBusiness #SCorporation #BusinessFormatio
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LLC members are taxed in three common ways: a sole proprietorship, a partnership, and an S-corporation. A single-member LLC is known as a disregarded entity, which means the LLC will be taxed as a sole proprietor but will provide you with legal protection benefits. Partnerships are also subject to self-employment taxes between the active members. S-Corps favor entrepreneurs who want to determine how much self-employment taxes they choose to pay. A significant requirement is the officer must be p
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