Advantages of an LLC over an S Corp for a Family Business

When starting a business it is important to determine what type of legal entity the company is going to take. Many businesses are started by one individual which makes them a sole proprietor when they are starting.

As businesses grow they often get changed into a partnership or a corporation. If the owner decides that they want a corporation, there are two types that are more common than others, the limited liability corporation and the S Corp. The LLC has a lot of advantages over the S Corp.

LLC benefits

Advantages of an LLC

There are four main advantages of an LLC.…

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