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Subject:  Re: S corp vs LLC Date:  6/29/2006  6:58 PM
Author:  TMFPMarti Number:  87617 of 123001

I presume that under either legal structure, I'm paying income taxes on the entirety of the net profits, so that's a push ? With the LLC, it all shows up as my income on schedule C and is all subject to income taxes (on top of self-employment tax); with an S corp, the salary shows up as salary income (subject to both income and self-employent tax) and the remainder shows up on schedule E (subject to income tax only). Do I have that right ?

Not quite. An employee, which is one hat you'll have in an S-Corp, doesn't pay self-employment tax. His salary is sub