Two key benefits offered by LLCs and S corps. are limited liability and \u201cpass-through\u201d taxation.\u00a0 Limited liability means that owners generally are not personally liable for the debts and liabilities of the business.\u00a0 \u201cPass-through\u201d taxation allows these business entities to avoid double taxation\u2014neither LLCs nor S corps. pay corporate-level taxes.\u00a0 Instead, all profits and losses are passed through to the business owners and applicable taxes are paid on their individual returns.<\/p>\n","protected":false},"excerpt":{"rendered":"