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A comment on Ask HN: Joined a startup? Your taxes are about to get complicated. Questions?. Parent comment
The benefit of S Corp tax status is that you pay yourself a dividend in addition to your income. They are taxed differently.
The drawback is you now have a payroll obligation.
An LLC can be single member. An LLC with S Corp tax status cam also be single member.
There's a lot of info about S Corp status online. Hopefully this puts the strategy on your radar for more investigation.
The benefit of S Corp tax status is that you pay yourself a dividend in addition to your income. They are taxed differently.
The drawback is you now have a payroll obligation.
An LLC can be single member. An LLC with S Corp tax status cam also be single member.
There's a lot of info about S Corp status online. Hopefully this puts the strategy on your radar for more investigation.