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12/12 - 12/16 Weekly Thread:
Hi Fishies , Need one help. I have 2 offers from Birlasoft and Genpact where Genpact is paying 2LPA more than Birlasoft . But profile is better in Birlasoft. I want to join Birlasoft but not sure if they will give me same profile because IT Companies after joining change projects sometimes. Any suggestions from Birlasoft or Genpact employees. My domain is in Oracle Apps Technical (Genpact ). Birlasoft it is PDH( MDM) cloud version. CTC offered :- 16.5 + 1.85 + 50k(Birlasoft )
Genpact :- 21 LPA.
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Yo, y'all think Elon is hiring?
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S corp is a tax election, the others are types of entities. S corps make sense for sole practitioners once their income exceeds a certain amount that makes the compliance costs worth it.
Also-if the solo practitioner plans to own real estate, be sure to put the real estate in a separate LLC and lease it back to the S-corp entity! It is not tax-advantageous to hold real property in S-corps!
https://www.sba.gov/starting-business/choose-your-business-structure
Rising Star
There’s corp tax calculators to determine what is best for your write offs
Pro
Also, PC and PLLCs don’t exist in every state and are typically only used for various professions, i.e. medicine. For instance, I’m currently doing the corporate structuring for a veterinary practice and they can only be formed under PCs and PLLCs in New York, as opposed to an LLC or corporation. New Jersey, on the other hand, doesn’t have a PLLC form at all.
Don’t assume facts outside the hypothetical.
So in other words, no one really knows other than the S Corp election distinction.
The link I gave is what we sent to clients for our small business clinic.
If you want someone to spell things out for you, hire a lawyer.