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File as S Corp or LLC?

File as S Corp or LLC?

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Hello, I am filing out my EIN number form for my transportation business, will it best serve me by filing as an  S corportation or a LLC.  And what will be the best tax form number to file under.  I have 4 independent contractors working with me.  My company will pay for gas, tickets, maintenance, vans and insurance.  

 

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By wisetaxes
Dec 2nd 2015 18:08

S-Corp is a tax category, Inc. , professional service, or LLC
LLC is a legal category.
Lawyers tell me the LLC is a bit better than Inc relative to protection. You can be both S-Corp and LLC.
S-Corp gives you the possibility to take salary and profit.
Independent contractors are to have the ability to decide what to do. Who controls what they do? If you do, then you should have them as employees and give them w-2's.

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