http://cenkuslaw.com
This is Misconception Monday, where we tackle common misconceptions in business law, business and society generally. This week, it’s about business law.
So, what is an S-Corporation? Well, it’s not – as many would think – a type of entity. An S-Corp is simply an election or a request an LLC or corporation makes to the IRS for S-Corp tax treatment.
Now, that may or may not have distinct tax advantages for you, but it’s important to note that there is legal structure and tax structure and they don’t need to be the same thing. A corporation can choose to be taxed as a corporation or as an S-Corporation while an LLC has a multitude of tax structures to choose from – a corporation, S-Corp, partnership, etc.
Watch the video for more detail, and contact me with any questions!
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For a deeper dive into and other legal issues vital to the success of your deals and your business, visit me at:
http://www.cenkuslaw.com
Just starting up? Check this out for my advice on startup success: http://www.thestartupshepherd.com.
You can also reach me at:
https://www.linkedin.com/in/brettcenkus
http://www.cenkuslaw.com
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About me:
My 20+ years of experience in business finance, business law and entrepreneurship have led me to believe that numbers and logic are awesome tools, but understanding human nature and emotions is the first step to business success.
The Cenkus Law Firm provides services related to mergers & acquisitions, general business issues and startups, including founders’ agreements and fundraising. I also consult with entrepreneurs and have invested my own capital as an angel investor.
From 2010-2013 I served as Chief Legal Counsel of a publicly-trade international oilfield services company. From 2001 to 2006 me and a partner founded and built Paragon Residential Mortgage. Paragon was sold to Bridge Investments in 2006.
I hold a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania.
Now, I live in Austin, TX with my wife and two kids. I enjoy reading, running, classic movies, great food and wine and some great American football.
More info on What is an S-Corporation? | Misconception Monday
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