New Bookkeeping Business
I just a bit confuse in what category should I open my Bookkeeping Business, LLC or S. Corp, for taxes reasons.
My partner and I are both Married with another individuals. Our spouses posses ownership of our company?
Thanks in advance for the help
Hi Daris, congratulations on your new bookkeeping business!
Unfortunately I cannot tell you which business type you should use for your bookkeeping business. There are tax advantages and disadvantages to both the S-Corp and LLC scenarios. We’ve got a couple of great articles that provide the details of how each company organization works. I would also recommend you consult with a tax professional who can take a look at your personal info and provide you with guidance on your personal situation.
Below are a couple of articles to help you gain a better understanding of S-Corps and LLCs:
Best of luck,