by Besolo | Feb 13, 2025 | Blog, Sole Proprietorship vs S Corp
Short answer… Yes, an S corporation can own an LLC. While this is a rare situation for the solopreneur, it is possible, and understanding its implications can help solopreneurs make informed business decisions. This ownership structure offers several advantages,...
by Besolo | Feb 11, 2025 | Blog, Sole Proprietorship vs S Corp
Your gross sales don’t solely determine your profit. That doesn’t have to be a hard lesson for first-time business owners if you’re smart about self-employment taxes. For solopreneurs, the way you structure your business can impact what’s left...
by Besolo | Feb 7, 2025 | Blog, Sole Proprietorship vs S Corp
If you’ve ever worked as (or paid for the services of) an independent contractor (IC), you’re likely familiar with 1099s. These documents are relatively simple and used to record gross payments made to an IC. However, mixing up your business structure by filing an S...
by Besolo | Jan 31, 2025 | Blog, Sole Proprietorship vs S Corp
One of the most significant benefits of doing business as a solopreneur is that you get to decide what is best when it comes to all aspects of your company, including its tax structure. One choice that you will be faced with is whether to elect S corporation status...
by Besolo | Jan 31, 2025 | Blog, Sole Proprietorship vs S Corp
Choosing to start your own S corp can be a great idea. However, the IRS expects you to pay yourself a “reasonable” salary—a term that can seem ambiguous at first. Below, we’ll breakdown how the process works so you can come up with an S corporation reasonable salary...
by Besolo | Jan 24, 2025 | Blog, Sole Proprietorship vs S Corp
If you’re thinking about forming a business, choosing the right structure is critical. The structure you select affects your taxes, liability, and growth potential. One of the most popular choices for small business owners is starting an S corporation (S corp), which...
