Many entrepreneurs choose to structure their businesses as the ever-so-popular LLC Limited Liability Company or S Corporation. Business owners may struggle with the choice between the structures, but many times but don’t realize that the two aren’t mutually exclusive. It’s possible to have your cake and eat it too by forming an LLC and then electing S corporation status.This is a particularly sound strategy if you have an LLC and the payroll taxes self-employment taxes on the owner/s are high. Here we’ll break down some of the key details on why you should consider an LLC with S corporation election, and how you go about doing it.

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