Should I operate my business as a limited liability company, or an 'S' or 'C' corporation?

These are complicated questions that, if answered properly, can save you a significant amount of taxes. There is no one answer for all situations. The type of business entity you choose can impact your Federal income tax, capital gains tax, employment tax and state taxes, plus your Federal and Ohio death taxes. You should sit down you're your attorney and accountant to discuss these issues even if you have already started your business.