The Most Basic Plan
Essentials Required to Fund Your Business
The Most Basic Plan
Essentials Required to Fund Your Business
| Feature | LLC (Default) | LLC taxed as S Corp |
|---|---|---|
| Self-employment tax | On entire profit | On salary only |
| Payroll required | No | Yes |
| Complexity | Low | Moderate |
| Tax filing | Schedule C | 1120S + W-2 |
| Owner draws | Unlimited | Salary + distributions |
You must file Form 2553 within 75 days of formation or by March 15 to be effective for that tax year.
Yes! You’ll still file as an S Corp and receive pass-through taxation benefits.
Yes — you must pay a reasonable salary and withhold/pay employment taxes.
Absolutely. Your structure doesn’t limit your ability to build credit or apply for funding.
Potentially — that’s why we provide compliance reminders and support.