If your business is organized as a sole proprietorship or as a wholly-owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by conducting business as an S corporation. Fundamentals of self-employment tax The self-employment tax is imposed on 92.35% of
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Is an S Corporation the Best Choice for Your Business?
If you’re launching a business with some partners, an S corporation may be the most suitable form of business for your new venture. Here’s why.
Using an S Corporation may Reduce your Taxes
Depending on your entity type, you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by using an S corporation.
Making the Right Entity Choice: C Corporation vs. S Corporation
The right entity choice can make a difference in the tax bill you owe for your business. There are plenty of potentially expensive tax problems that you should assess before making the decision to convert from a C corporation to an S corporation.
Top 5 Accounting Tips: Business Structure Matters
New and potential business owners should take care when selecting their business entity. How you and your business will be taxed is wholly dependent on the entity you select.
Is S Corp Status Right for Me?
Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation. But not all businesses are eligible.
Should you Switch from an S Corp to a C Corp?
For decades, business owners debated the merits of switching from a C corp to an S corp, mainly for the tax advantages offered by an S corp to its owners. With the new tax act in place, the debate has flipped, and S corp owners are wondering if changing to a C corp might be advantageous.