By Cliff Ennico

“I have operated a service business for the past few years as a limited liability company (LLC) and have been quite successful.
“My accountant is recommending that I change my LLC so it’s taxed like a Subchapter S corporation. I understand she is trying to save me money on taxes by doing this, but I’m confused by what I’m reading on the Internet. Do I then have to operate as a corporation, with a board of directors, shares of stock and all that?”

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