LLCs and S corporations are different aspects of business structure. Choosing to pursue one, both, or neither classification could benefit your business in different ways. Take into consideration your needs when running a business, and ask yourself the following questions to get a better idea of which designation is right for you.
How many owners have a stake in your business?
Are all of your business partners U.S. citizens?
Does a partnership or corporation have a stake in your business?
How would a self-employment tax have an effect on your net profit?