As a new entrepreneur, it can be difficult to know where to begin. When starting a business, it's important to know which business type will be the best for your new endeavor. Often the question comes up, should I form an LLC or and S Corporation and what's the difference between them? So let's break it down...

An LLC (Limited Liability Company) and an S Corporation (S Corp) are two types of business structures that offer liability protection to their owners. However, there are several differences between the two.

1. Ownership: An LLC can have an unlimited number of owners, known as members, who can be individuals, corporations, or other LLCs. In contrast, an S Corp can have a maximum of 100 shareholders who must be U.S. citizens or residents.
2. Taxation: LLCs are typically taxed as a pass-through entity, which means that the company's profits and losses are passed through to the members and reported on their personal tax returns. S Corps also use the pass-through taxation system, but they must file a separate tax return, and the shareholders pay taxes on their portion of the company's income.
3. Management: LLCs have more flexibility in how they're managed. Members can choose to have a manager run the company, or they can manage it themselves. In contrast, an S Corp must have a board of directors, and the day-to-day management is typically handled by officers.
4. Formalities: LLCs generally have fewer formalities and less paperwork than S Corps. S Corps must hold regular meetings, keep minutes, and follow other corporate formalities.
5. Liability Protection: Both LLCs and S Corps offer limited liability protection, which means that the owners are not personally liable for the company's debts or obligations. However, there are some differences in how this protection works, and it's essential to consult with an attorney to understand the specific protections and limitations of each structure.

Overall, the decision to form an LLC or an S Corp depends on the business's specific needs and goals. It's recommended that business owners consult with a legal and tax professional to determine the best structure for their particular circumstances.

Where do I start?

So many people never get their businesses off the ground, because they just don't know where or how to start. You don't have to have it all figured out... just begin.

So many people are stuck in their 9 to 5 jobs. Every day they show up for work, complete the same tasks they did yesterday and stress themselves out…. For someone else's business. 

You only get one shot at this life... do you really want to spend it creating wealth for someone else?  If you're anything like me, you weren't made to work for someone else. You weren't created to be an employee. You were designed for so much more. Do you hear this little voice telling you that it’s time for a change? Yep, then this is for you!

It's time to start your own business TODAY! Having your own business is the best way to build something meaningful, build generational wealth and to walk in compete freedom! Now is the time!

Even if you have just a little time or money or experience you can do it! There are plenty of lucrative part-time businesses you can start with little or even no money and experience. You just have to decide that this is it! Now is the time to step out and to begin!

Your legacy is waiting on you! Don't wait anymore. Take that step of faith. You got this! If you need some encouragement and accountability, then let's talk about how to KICKSTART your business or how to LEVEL UP!