When comparing the tax benefits of an LLC (Limited Liability Company) to those of an S Corporation (S Corp), there are several key factors to consider. Both structures offer unique tax advantages, and the best choice often depends on the specific circumstances of the business and its owners. Here’s a detailed comparison of their tax benefits: 1. Taxation Structure LLC: Pass-Through Taxation:  By default, an LLC is treated as a pass-through entity for tax purposes. This means

The taxation of S Corporations and C Corporations differs significantly, impacting how corporate profits are taxed at both the entity and shareholder levels. Here’s a breakdown of the key differences: 1. Taxation Structure C Corporation: C Corporations are treated as separate legal entities for tax purposes. They must file a corporate tax return (Form 1120) and pay federal income taxes on their profits at the corporate tax rate. When C Corporations distribute profits to share

The tax implications for a Single-Member LLC  and a Multi-Member LLC  differ mainly in terms of taxation structure, filing requirements, and how profits and losses are reported. Here’s a clear breakdown of each: Single-Member LLC Tax Classification: A Single-Member LLC is treated as a "disregarded entity" for federal income tax purposes. This means the IRS does not recognize it as separate from its owner. Filing Requirements: The owner reports income and expenses from the LLC

When starting a business in the U.S., choosing the right structure—like an LLC, S Corporation, or C Corporation—can affect how your income is taxed. Here’s a breakdown of these categories to simplify the tax implications for each. 1. LLC (Limited Liability Company) Tax Classification: Single-Member LLC:  Treated as part of the owner's tax return. The owner reports business income on their personal tax form (Form 1040). Multi-Member LLC:  Generally taxed like a partnership unl

When you're thinking about opening a business, one of the first decisions you'll need to make is which legal structure to choose. Three of the most common types are Limited Liability Companies (LLCs), Corporations, and S Corporations. Each structure has its own advantages and disadvantages, especially regarding taxes and personal liability. Let’s break them down in simple terms. 1. Limited Liability Company (LLC) An LLC  is a popular choice for many new business owners for se

This updated guide outlines steps to form a business in Florida, incorporating 2026 state regulations, including filing fees, annual report requirements, and local licenses under Florida Statutes (Chapters 605 for LLCs, 607 for corporations, 621 for professional entities). It covers common structures: sole proprietorship/DBA , LLC , corporation (C-Corp or S-Corp) . LLCs remain most popular for flexibility and limited liability protection. Step 1: Decide on Business Structure

Running a small business comes with many challenges, and one of the biggest is managing taxes. The 199A deduction, also known as the pass-through deduction, offers a valuable tax break for many small business owners. Yet, the rules can seem complicated and confusing. This post breaks down the 199A deduction into simple terms, explains recent improvements, and shows how you can benefit from it. What Is the Pass-Through Deduction? The pass-through deduction applies to businesse

How LLCs, Partnerships, Sole Proprietors & Schedule C Filers Can Benefit — and Why Having a Trusted Accountant Matters If you’re a small-business owner — whether you operate as a sole proprietor, a partnership, or an LLC taxed as a pass-through entity — 2025 brings some significant tax-planning opportunities. At Services by Valeria, we specialise in concierge accounting services for small businesses (especially in construction), so you can focus on what you do best — and we t

Under the One Big Beautiful Bill Act (OBBBA) enacted July 4, 2025, several changes benefit taxpayers who expect refunds due to having qualified dependents. The most impactful updates for 2025 are to the Child Tax Credit and the Adoption Credit, including expanded refundability and clarifications that can increase cash refunds for eligible families. Key dependent eligibility rules remain in place and must be met to claim these benefits. Child Tax Credit (CTC) updates for 2025

💡 1. Use Real-Time Cash Flow Tracking Tools What it is: Adopt accounting software or apps that sync directly with your bank accounts — like QuickBooks Online, Xero, or Wave  — to automatically update your cash position every day. Why it helps: Gives you a live view  of what’s coming in and going out. Helps spot dips before they happen so you can plan ahead (like delaying a purchase or collecting a payment sooner). Creates automatic reports that show trends over time. Pro Tip

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Paso 1: Decidir sobre una estructura empresarial Hay 3 opciones básicas: un DBA, una corporación o una LLC. Un DBA o "Doing Business As"...

Step 1: Decide on a Business Structure There are 3 basic options: a DBA, a Corporation, or an LLC. A DBA or “Doing Business As” (also...

Como seguimiento de nuestro correo electrónico de ayer (15/04), es importante recordar que la gran mayoría de los contribuyentes,...