Q: Best small business structure llc, or s corp?
That depends on a number of additional factors. An LLC is almost always better than nothing. And the S-election requires an entity to be accepted. So the LLC is essentially a foregone conclusion. The question becomes to s-elect or not.
That question becomes first an issue of eligibility. Assuming the entity is eligible to be taxed as a small business corporation we have to analyze income, assets, and the goals of the owners.
Neither is better, each is a tool to be used where appropriate.
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