Maybe I’m in the minority here, I’m just surprised that people don’t say that they started a business. Instead it is that they formed and LLC. Maybe I’m being ridiculous but like when I bought a commercial property I told people I bought a building. I didn’t say I formed and LLC and the LLC bought the building. When I tell people I own a business I don’t say I formed and LLC that is treated as an S Corp, I just say I own a small business.

The reason I bring this up is I love the fact people are starting businesses(or want to start a business) and get why they’d want to set it up properly so they have questions and that is what Reddit is for but it seems to me that some people think an LLC has some magical powers. I guess I think people overthink it.

Maybe someone who is a better writer than I am with a better practical understanding than most could come up with someone related to this topic and it could be a pinned post or something. I’m far from an expert but remember my accountant pointing out to me that the main reason you get an S Corp(which was the more common thing to get when I started my first business) or an LLC is about liability. Sure, there are some tax strategies you can put in place(though I’ve always been told by my CPA that if I pay myself 60K/year and consistently have 60k of pass through income that could be a red flag. Though I admittedly take a more conservative approach rather than aggressive when it comes to taxation.

am I all wrong about this?