LLC vs. S Corp > mitigate tax exposure
Hello, not sure if this the correct forum for this, but I am looking for some informal information on setting up my company. I've done some research and before meeting with my accountant, wanted to try and get some thoughts validated to go into my meeting as informed as possible.
In short, I currently have an LLC (2016 is my third year of business). I have been running it as a standard LLC to date.
My understanding is that there are tax benefits to having it set up as an S Corp.
I did about $300,000 of revenue in 2015 and expect to hit about $500,000 in 2016.
Before jumping into some questions around the benefits of setting things up, is this the correct forum for such conversations?