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Updated about 9 years ago on . Most recent reply presented by

User Stats

38
Posts
16
Votes
Link McGinnis
  • Investor
  • Knoxville, TN
16
Votes |
38
Posts

Business Expense deductions by Entity?

Link McGinnis
  • Investor
  • Knoxville, TN
Posted

It appears from some reading that different entities are able to claim different business expenses against income.

Can someone explain the differences in the allowed business expenses that can be deducted when using LLC (filing as S-corp), vs. S-Corp, vs. C-Corp?

I'm more familiar with C-Corp and it seems anything we purchase to help in our business (down to tape dispensers) are considered an expense. Is this true with LLC filing as S-Corp?

Thanks!

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