Guided Path 6-1 Understanding the Tax Implications of Different Business Structures
Episode description
What type of business structure should you use to limit your taxes and liability?
In this episode, Zacc Call and Laura Hadley discuss various business structures and their implications for your taxes and liability. They explain that most business structures are pass-through entities, except for C corporations which are subject to double taxation.
Plus they delve into sole proprietorships, partnerships, and limited liability corporations (LLCs), highlighting the risks and benefits of each.
Listen to gain insight on:
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The different tax implications of Sole Proprietorships, Partnerships, and LLCs & which structure you should use in your business
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The benefits of S Corporations in your business structure
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How these different structures affect your liability (how to protect your assets if you get involved in a lawsuit!)
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The process of opting out of or back into Social Security as a self-employed individual
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And more
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