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Structuring an LLCas s corp can hold tax benefits, and may simplify the conversion of an LLC to an S-corp later on. The best time to consider making the change is whenLLCtaxes reach a certain point. For an LLC, when income taxes are larger than the tax burden that would be faced by...
Other types of structures, like LLCs or S Corps, can avoid double taxation with pass-through taxation. Pass-through taxation is when the taxes pass through the business and onto the owners or individuals. If you want to avoid double taxation altogether, you may want to establish an S c...
Whether it’s an S Corp, an LLC, or another type of business structure, you need an easy way to track your business’s income and expenses. With Patriot’saccounting software, you can streamline the way you record transactions and get back to what matters most … your business. Try it ...
However, there can be drawbacks of an S Corp that may deter a small business from taking this advantage. Always consult a professional before deciding on whether to be taxed as an LLC or S Corporation. You can learn more about the differences between corporation and LLC taxes here in our ...
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In the evolving digital age, the protection of intellectual property has never been more crucial. Whether you’re an inventor, an artist, or an entrepreneur, understanding patents, trademarks, and copyrights ensures that your creations remain exclusively yours. With the resources provided in this gu...
You get used to this, but it makes for a bit of an odd workflow! Another improvement that I feel could be made to Shopify’s drag-and-drop editor involves forms— at the moment you can only drop a simple ‘contact’ or mailing list signup form into page templates. The options for...
You can also only sell products in Business or Commerce plans. Due to transaction fees, Squarespace users need to upgrade to an eCommerce plan to save on that. Let’s say you want tosell only one product. You will still have to pay for the Business plan, and the yearly costs of hosti...
However, there are important differences with regard to taxation: An S corp is a "pass-through" entity, meaning that it can be used to pass profits and tax credits on to its shareholders. The profits of a C corp are taxed twice, first as corporate income and again as shareholder ...