The most misunderstood decision in small business, in plain English: what actually drives the answer, and the greatest hits of bad tax advice, busted.
Contractors get more bad advice on entity selection (from other contractors, from social media, from the guy at the supply house) than on any other topic. This guide separates the legal entity, meaning what you register, from the tax election, meaning how the IRS treats it, because an LLC is not a tax status.
It compares sole proprietor, partnership, and S-corp treatment side by side, walks through the S-corp reasonable-compensation rule that trips people up, and busts the myths: the G-Wagon write-off, the 60/40 salary rule that doesn't exist, and the tiny-salary strategy that invites an audit.
Free to download. No email wall. Open it in Excel or Google Sheets, edit it, keep it.
Contractors about to form an entity, second-guessing a choice someone talked them into, or wondering whether their S-corp salary would hold up.
