S Corporation Archives - Drafted Legal

How to Start an LLC with S-Corp Election

by Wesley Henderson | Sep 9, 2022 | LLC, S Corporation, Side Business

Many limited liability companies (LLCs) use the S-Corporation distinction – and for good reason – an LLC with S Corp election is one of the most common new strategies for both liability and tax benefits. The reason people like to use the LLC as an S...

S-Corp Definition Shows Most Important Feature

by Wesley Henderson | Feb 9, 2022 | LLC, S Corporation, Side Business

The definition of an S Corp is simpler than you might think. It’s really only a tax status. A so-called S-Corp can be a corporation but it can also be an LLC! Let’s take a look at how it can help you (aka save you money in taxes). Harry and Lloyd want to...

Why the Benefits of a Sole Proprietorship are NOT Worth It

by Wesley Henderson | Jan 7, 2020 | LLC, S Corporation

Sole proprietorships have one benefit: simplicity. The downsides are numerous, which make operating as a sole proprietorship imprudent. Taking the time to form legally is an investment in your business just like having a website or sending a grand-opening letter. ...

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