An “S” Corporation is an election that a sole proprietor, an LLC or a corporation can make. It’s not a legal entity but it is how the entity elects to be taxed so if you elect to be taxed as an “S” Corporation then the taxes will actually flow through to the owner instead of the company paying taxes once and then the owner or shareholders paying taxes again on top of what taxes were already paid by the corporation.
So it’s something to speak to your accountant about.
Written by Brett Trembly
In the South Florida legal community, Brett sits on the Board of the South Miami Kendall Bar Association, the Florida Bar 11th Circuit Grievance Committee, volunteers on the Florida Bar Young Lawyers Division Mentoring Program, the Dade-County Bar Associations Rainmakers Committee, and annually volunteers for Miami-Dade County’s Ethical Governance Day.
Written by Brett Trembly
In the South Florida legal community, Brett sits on the Board of the South Miami Kendall Bar Association, the Florida Bar 11th Circuit Grievance Committee, volunteers on the Florida Bar Young Lawyers Division Mentoring Program, the Dade-County Bar Associations Rainmakers Committee, and annually volunteers for Miami-Dade County’s Ethical Governance Day.
