Bill Brissette Design - Santa Monica CA
FairCharles Brokers - Tax Prep, Business Service & Insurance - BKLYN NY
Description: We've been forming corporations since 1998, providing business insurance since 1999, & filing taxes since 2006. You do you. Let FairCharles do the rest.
A Limited Liability Company, also known as an LLC., is a pass-through entity. It’s profits and losses are directly passed along to it’s stakeholders or members. Owners are not considered employees. The amounts passed to each member is based on the percentage or stock ownership in the business for that particular year. If an LLC has a sole owner, then the LLC is filed together with the sole owner’s individual tax return. If there is more than one owner then the LLC becomes a Partnership and must file a Partn
An S Corp is also a pass-through entity. S Corps must file a corporation return regardless of the number of owners. A main feature of an S Corp is that it’s owners do not pay self employment taxes on it’s profits.
Unlike an LLC or an S Corp, C Corps are not pass through entities. C Corps are an entity onto itself. An owner can also be an employee and receive compensation as an employee. C Corps pay taxes at the corporate level and then the owner will pay income taxes on their earnings from the corporation.
Bill Brissette Design - Santa Monica CA
FairCharles Brokers - Tax Prep, Business Service & Insurance - BKLYN NY