Starting Your Business Right: The tax choice between an LLC and Corporation

Are you one of the many people looking to start your own business? Or maybe you’ve begun the filing process but aren’t sure about the pros and cons of each business structure.

Meet 24-year old wedding, elopement, and travel photographer Grace Torres. In 2021, she made her side-hustle into her full-time job. Hosts Daniel and Lauren talk with Grace about her journey forming Grace Jicha Creative, LLC, how she files her taxes differently now, and what advice she’d offer to individuals starting a small business. Then, they welcome Oklahoma-based TurboTax Expert Mary Ann Hooten onto the podcast to learn the difference between an LLC and an S corporation, why and when to form an LLC, and how paying taxes and wages works in each structure.

The views, information or opinions expressed during the Friends with Tax Benefits podcast series are solely those of the individuals involved and do not represent those of Intuit, TurboTax or any of its brands. The primary purpose of this podcast series is to educate and inform. This podcast series does not constitute financial, legal or other professional advice or services.