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Become a C Corp
Qoins App • Apr 22, 2022
I know everyone loves the LLC, but the LLC can potentially get you in a lot of trouble. You get taxed as an individual on what the corporation makes for the year, which really penalizes you personally and can lead to a huge tax liability that you are personally responsible for. With a C Corp, the business is a separate entity, meaning the business manages its finances and you manage yours. It forces you to! An LLC can be a great way to get started, but once your business takes off there could be some much-needed savings attached with a change to a C Corp. Check in with your financial advisor to make sure if the change is right for you!
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