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What Is An S-Corp?
An S-Corp is simply a tax treatment. By electing to be taxed as an S-Corp, you pass all of the income and expenses to the owners, but keep the same structure as a Corporation.
![Taxes [Converted]](https://thescorp.co/wp-content/uploads/2021/06/Taxes-Converted.png)
Should I Be An S-Corp?
As attractive as this may seem... this option is not suited for everyone.
Well... it all depends. Granted, any type of business entity, except for Sole Proprietors (sorry y'all) can choose this type of tax structure, however, due to the costs associated with ownership of S-Corps and the complexities that surround them, choosing S-Corp status should only be chosen if you have a sustainable business that is generating annual net profits of 6 figures or more. 💰💰💰
If your business fits this profile, then by all means... get that LLC (single or multi-member) or Corporation and get that S-Corp status!!!