Entity Taxation
At MyBookly, we help LLCs (Limited Liability Corporations) navigate the complexities of entity classification, ensuring they choose the best tax structure for their financial goals.
LLCs can elect to be taxed as a C-Corporation, which may offer benefits like reinvesting profits but comes with corporate taxation and potential double taxation.
Alternatively, an S-Corporation allows pass-through taxation, avoiding double taxation but requiring compliance with shareholder restrictions.
Our team provides expert guidance to help businesses make informed decisions and stay compliant with IRS regulations.