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The Difference Between an LLC and a Subchapter S Corporation

Posted in Tax News on November 17, 2011

Startup businesses are often considering either a Limited Liability Company (“LLC”) or a Subchapter S Corporation. Here are the differences:

Tagged with: Connecticut, CT, Department of Labor, Department of Revenue Services, Elect Sub S, Employees, Estimated Taxes, Form 1065, Form 1120S, Form 2553, Form W-2, Income Tax, Limited Liability Company, LLC, Losses, Members, Partners, Partnership, Profit, Schedule K-1, Secretary of State, Shareholders, Single Member LLC, Startup, Startup Business, Stockholder, Stockholders, Sub S Election, Subchapter S, Subchapter S Corporation, Subchapter S Election, Tax Withholding

Why Every Sole Proprieter Should Convert to a LLC

Posted in Tax News on July 14, 2011

We live in litigious society. Businesses that are organized as sole proprietorships are taking on unnecessary risks.

Tagged with: Business Entity Tax, Connecticut, CT, Federal Tax Identification Number, Form OP-424, Limited Liability Company, LLC, Members, Operating Agreement, Partners, Partnership, Partnership Agreement, Schedule C, Sole Proprietor

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IRS Increases Mileage Rate: effective 7/1/22
Team BORGIDA CARES! Raises $3,168 For The American Cancer Society
Child Tax Rebate Program – MUST APPLY BY 7/31/22
Relay For Life 2022 – How can YOU help? There’s Lots of Ways…
4 Reasons NOT to Wait for Your K-1

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