Got Family

Hello, this is Got Family and I am Carey Berger and today we’re going to talk about entity choice, and we’re going to talk about just two. We’re going to talk about the differences between an LLC and an S corporation, because that's the most common one we think of. The difference really is this, the difference between a C Corporation and an S Corporation is simply one of taxes, they are otherwise identical, and a C Corporation has its own tax life, and an S Corporation is a pass-through entity that passes its tax experiences on to the shareholders. Same thing goes for an LLC. You can have a pass through or a non-pass-through LLC, and so thus, they are the same. Now we’re back to the first question, LLC versus C Corporation, and here's the funny answer; they’re both about the same. What's the difference? the difference is this, the C corporation or the corporation of any form has been around for a long, long, long time as in, let's just say, hundreds of years, and let someone prove me wrong. In doing so, the w