Hello, my name is Carlos Quintana and I have worked many years in accounting specializing in tax strategies for entities. This question is very common and very simple to answer, however like any other accounting question the answer might varie according to specifics. Furthermore, a very simple benefit to the election of S-corp would be that you do not pay any self employment tax, which can translate to thousands of dollars being saved. A very important benefit for the entity itself (LLC) would be the easiness to maintain it. There is no requirement to maintain record of your annual minutes to maintain for the shareholder and director meetings. Those is my opinion are 2 of the most beneficial things from a LLC with an S-Corp election.