As the word itself describes, Partnership is a business legally owned by two or more owners. Since partnerships have no corporate status, they do not have to be taxed directly...
There are several tax benefits once you decide to have your business become an S Corporation. It saves the double taxation issues that a shareholder in a corporation normally encounters....
A Limited Liability Company (LLC) is not recognized by the IRS and is not a separate entity. The IRS calls it a “pass-through entity” because its profits and losses are...